Fairplay: VLCCs Get Gulf Spot Rates Boost

As VLCC rates from the Gulf and west Africa have firmed substantially, the relief for owners may last for a month or two. Bullish sentiments, which have been few and far between in the tanker trades, have returned to the VLCC market, with rates firming from both west Africa and the Gulf . . . . . VLCC availability in the Gulf has averaged 92 vessels, says Poten & Partners, attributing the change to ‘the increased activity in last 10 days of the month combined with the strong interest for westbound cargoes, [which] snapped up a large portion of swing tonnage and increased tonne-mile demand.’”