Greece’s Signal Group has identified a growing trend of spot relet VLCCs gathering off Saudi Arabia as rates to China sink to new lows.
The chartering platform said tanker arrivals off the main crude export terminal of Ras Tanura are set to rise significantly from 26 in the first week of July to 42 in the second week.
VLCC earnings from the Middle East Gulf (MEG) to China fell throughout June and now stand at a year-low of $19,100 per day.
