VLCC rates continue to rise, with the market moving comfortably past the Worldscale 100 mark and climbing
Paddy Rodgers, chief executive of Euronav, describes the present strong market as “pretty exciting”.
“The key to this market is volatility,” he said. “You must be ready to push the rate when you see a shortage of ships.”
The upward shift in the past few days is being driven by increased demand rather than tighter supply, according to Clarksons Platou Securities.
Analysts
