Global VLCC Spot Earnings rise to $805,000/Day - Cyprus Shipping News
This story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.4 Articles
4 Articles
Why Freight Rates Are Soaring, and What the Shipyard Boom Means for Investors
Last week, a supertanker loading crude in the Gulf of Oman was fixed at $1.01 million a day for a voyage to Asia, with another deal reportedly agreed at $1.16 million. Bloomberg Intelligence says the benchmark rate for these very large crude carriers, or VLCCs, hit a record $907,635 a day on October 6 and could cross $1 million before the month is out.
Oil tanker owners are experiencing an exceptionally profitable period. They can collect up to $1.3 million (27.3 million crowns) per day for renting a single ship on some routes. Last year, average daily earnings were around $55,000 (1.16 million crowns).
Superoilers' (VLCC) tariffs between the Persian and Asia have set a record of $1.27 million a day, twelve times more than their previous levels.
Global VLCC Spot Earnings rise to $805,000/Day - Cyprus Shipping News
Clarksons Research, the data and analytics arm of the Clarksons Group, continue to track and monitor shipping activity and markets impacted by the Middle East conflict, with energy shipping markets experiencing unprecedented conditions. Summarising their latest weekly recap issued today at 18.00 pm GMT 9th October, Steve Gordon, Global Head of Clarksons Research commented: Crude
Coverage Details
Bias Distribution
- There is no tracked Bias information for the sources covering this story.
Factuality
To view factuality data please Upgrade to Premium
