Tradewinds: China’s Thirst Unable to Buoy VLCC Rates

“Despite China’s insatiable desire for oil, brokers do not see a positive outlook for VLCC rates over the next few months. . . . ‘It seems that summer has made bears of us all. And with the outlook for the fourth quarter looking less promising, owners and analysts alike have been searching for signs of life in a seemingly comatose tanker market’ writes Poten.”