Hellenic Shipping News: Tanker Market’s Rebound is Due to Strong Demand and Lack of Tonnage Supply

“Limited fleet growth, coupled with strong demand from nations such as India and China have been the main driving forces behind the rebound of tanker rates over the course of the past few months. According to recent reports from shipbroker Poten & Partners, since the summer of 2013, VLCCs on the AG-East route, for example, have returned $30,500/day year-to-date versus $12,300/day during the same period of 2013.”