Earnings on the spot market hit $20,200 daily Tuesday, a rise of 34.7% in the past week, according to Global Hunter Securities.

GHS analyst Omar Nokta says the only other time VLCCs have touched this level in 2013 was during the first two weeks of July.

The rise comes amid some optimism for the VLCC market.

Erik Nikolai Stavseth of Arctic Securities suggests the sector could become the comeback kid of shipping.