VLCCs rebounded partially in the spot market Friday but rates still remained below last week as charterers held onto the drivers’ seat in the Middle East.

The average time-charter equivalent (TCE) ended the week at $27,400 per day, which marked a 7.4% jump from yesterday’s levels but was still 5.6% down from the $28,900 per day earned this time last week, according to the Baltic Exchange.

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