VLCC owners making the best of a 'bad hand', analysts say

VLCC rates are holding up at healthy levels despite the market cards being stacked against the sector, analysts have said.

Fearnley Securities assessed a trip from the Middle East Gulf to South Korea at Worldscale 52, or a moneymaking $40,100 per day, on Tuesday. That is down 10% from Monday, but only 1% lower than the level a month earlier, the Norwegian investment bank's numbers show.