DNB Markets is expecting the traditionally strong winter season for the VLCC market to fall short of investors' expectations.

VLCC spot rates have crashed from $60,000 per day last December to around $12,000 per day this month, noted analyst Nicolay Dyvik in a video update on the market.

“We argue that winter season could disappoint,” he said, noting his forecast of $22,000 per day for VLCCs in the final three months of 2017.