McQuilling Services, Weekly Note No. 24: VLCCs "RALLY" ON PROMPT REQUIREMENTS

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Sep 2009

In the last week, VLCC's have enjoyed a “rally” in the spot market for eastern destinations on TD 3 (260 mmt - Arab Gulf / Chiba), where the fixing rate of WS 35 rose to WS 40. This brought Time Charter Equivalent Earnings up about 90% to approximately US $19,000 per day.  Download File
While the fleet's owners may be enjoying this rally, we believe this latest surge in the rates will be short lived.




Source: McQuilling Services, LLC