VLCC spot earnings slipped today and talk emerged that charterers may jump on lower suezmax rates to split cargoes into smaller parcels.
The average time-charter equivalent rate dipped 5.8% to $12,700 per day on the Baltic Exchange, which marks a 11.8% slump since this time last week and the third-straight day of declines since recent rebounds.
Connecticut brokerage Charles Weber assessed a Middle East-to-China journey at WorldScale 39 today, which is up a point from the end of last week on the benchmark trade.
