Bloomberg: Asia Fuel Oil Premium Shrinks as Freight Favors Western Supplies

“Rates for very large crude carriers, or supertankers that can haul a cargo of 2 million barrels, sailing from North West Europe to Asia are at 35 industry-standard Worldscale points, the lowest since October, KBC’s Ul-Haq said….At least 21 tankers, including six very large crude carriers, or VLCCs, have been booked to carry fuel oil from the U.S., Europe and the Caribbean to arrive in Asia this month, according to shipbrokers including Poten & Partners.”