Lloyd’s List : The View Far Over the VLCC Horizon

“In the near term, the outlook is looking up for VLCCs. Earnings of nearly $40,000 per day in July are getting people excited about what the peak season will offer. ‘If the market is this strong in July, what goodies could the fourth quarter bring?’ asked shipping analysts and brokers at Poten & Partners. With an incremental 20 VLCCs scheduled to deliver in the rest of the year, new vessel supply for 2014 will be around 30, which is consistent with 2013 and well below the ‘bloated influx of 65 ships in 2011,’ Poten observed.”