April 20th, 2018

VLCC Market

Dire, but not without hope

In absolute terms, VLCC earnings have been worse than this. But not much. The first quarter of the year produced a RV spot average of just under $9k/day for VLCCs. If seasonality is anything to go by we can expect the market to get worse before it gets better, but there are reasons to be more optimistic.

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