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Tankers and Gas VLCC Freight rates

VLCC rates keep climbing amid hope for sustainable upcycle

  • There is higher chartering activity and less ‘fixing and failing’ behaviour amid current rate spike, says Omar Nokta of Jefferies
  • VLCC rates currently average $103,200 per day, with scrubber-equipped eco-VLCCs at $107,500 per day, according to Clarksons
  • Four VLCCs were placed on subs on Tuesday in the range of $120,000-$150,000 per day, reports Tankers International

  • Analysis

VLCC rates do not increase in a straight line during upcycles — there are temporary pullbacks along the way. The bullish view is there should be higher lows and higher highs in the months ahead

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