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Tankers and Gas Sale and Purchase DHT

VLCC ‘aggregator’ has caused fundamental market shift, says DHT

  • Customers are increasingly worried about VLCC availability and are bidding up time-charter rates for one- to three-year durations
  • Consolidated VLCC ownership should lead to better information flow and more market power for vessel owners vs charterers
  • Consolidation drive may not be over yet; DHT believes ‘the aggregator’ is ‘looking for additional tonnage’

  • Analysis

VLCC ownership has abruptly become much more concentrated. ‘We can say with confidence that this is already having an impact on freight rates in the spot market, customer demand for time charters, and values of secondhand VLCCs,’ says DHT’s Svein Moxnes Harfjeld

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