VLCC Market Firing on All Cylinders

01 May 2015: Owners reaping the benefits of a strong market. On April 30, Euronav released its results for the first quarter of 2015.  A day earlier, DHT did the same.  Both companies produced stellar earnings for the first quarter of the year on the back of solid results for their crude oil tankers, in particular the VLCCs, which make up the majority of these companies’ fleets.  Owners expect that the strong market will continue into the second quarter of the year.  The healthy VLCC market is not due to one or two isolated drivers, but the result of a combination of multiple factors that have created a market that we have not seen at this side of the financial crisis. Download here