VLCC rates are jumping on strong chartering demand after multiple drone attacks on Saudi Arabia’s oil facilities knocked out half of the country’s production capacity over the weekend.
On the Baltic Exchange, spot time-charter-equivalent earnings for VLCCs on the TD3C Middle East Gulf-China route rose by $7,925 to close at $32,367 per day on Monday, the highest in September.
VLCC earnings for the US Gulf-China route were assessed at $37,203 per day, compared with $28,354 per day on Friday.
