Rates for very large crude carriers have bounced off nearly two year lows as charterers begin preferring bigger ships over suezmax tankers.
VLCC spot rates from the Middle East to the Far East, which bottomed out at just under $7,800 per day last week, are now just over $10,500 per day, according to Baltic Exchange assessments. Rates had not been at those lows since October 2014.
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