Uncertainty Over VLCC Rates from Middle East to Asia

Monday / May 25, 2015

Uncertainty Over VLCC Rates from Middle East to AsiaBrokers were of the opinion that rates for very large crude carriers (VLCCs) on key Asian routes from the Middle East would face some uncertainty next week but would continue to be strong. Rates for VLCCs had jumped to the highest in more than five months this week.

Brokers predicted that rates would take a fall in the coming week as charterers would look to release the middle part of June’s fixture programme after which they expect the rates to rebound.

A broker commented that the rates would fall for a few days next week even as another Singapore based broker affirmed that the market was not going to collapse.

A Norwegian ship broker termed the VLCC earning from the Middle East to Asia which was around $80,000, as ‘contra-seasonal’.

SNM Events News Service
Contact Editor: editor@snmevents.com

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