VLCC spot rates surged Wednesday despite just a few new fixtures as owner sentiment remained buoyant.
The benchmark TD3 route between the Middle East and Japan gained $4,650, or 4.3%, to just under $110,000 per day, according to the Baltic Exchange. It was also a 1.7% increase compared to the rate earned this time last week.
Though it was a quiet day in the Middle East, owners remained bullish, said Howe Robinson.
“One
