VLCC spot rates finished Friday 36.7% higher than last week’s levels as the tonnage list thinned.
The average time-charter equivalent (TCE) for the sector came in at nearly $32,100 per day, according to data from the Baltic Exchange. That’s higher than $23,500 per day earned last week and is a level not reaches since 9 June.
Most of the week’s gains took place earlier in the week, and Friday’s chartering was relatively quiet with just one reported fixture at an undisclosed rate.
But
