Benchmark VLCC rates on the Middle East-China route have risen for the fifth consecutive day, hitting the highest level this year once again.
Rates gained 2.2% to WS 57.29, equating to a 3.8% uptick in daily return to $18,916, Baltic Exchange data show.
They jumped 14% Monday to an apex of WS 56.08, translating into a 58% hike in daily charter rates to $18,220.
