VLCC owners were so hungry for fixtures that 17 tankers were thrown at a single cargo in the Middle East as rates slumped to painful lows, brokers said on Thursday.
The pile-on came as the Baltic Exchange’s estimate of -$8,330 per day in time charter-equivalent (TCE) earnings represented an “all-time low”, Cleaves Securities chief executive Joakim Hannisdahl said on Twitter.
