After spending the better part of the week rallying, VLCC rates fell back to earth to close out the week.
Clarksons’ fleet weighted average assessment came in at $37,700 per day on Friday, slipping more than 15% from Thursday and nearly 12% from last week after closing at $42,800 per day.
“Following the recent standoff between owners and charterers, charterers have regained the upper hand, leading to a decline in freight rates,” analyst Frode Morkedal wrote.
