VLCC spot earnings slumped today as the tanker sector has found its lowest levels in nearly two years.
The Baltic Exchange's time charter equivalent (TCE) earnings estimate for the VLCC sector dropped $1,230 today, which was a 9% drop, to touch $14,800 per day.
That's close to the lowest level the large tankers have seen since October 2014, according to data from the exchange, though this comes during the seasonally slow season.
The
