Not all gloom and doom for VLCCs as US exports remain resilient

VLCC owners are finding support from resilient US oil exports despite a busy hurricane season and weak oil demand across the globe.

While the Middle East Gulf market has been plagued by the Opec supply cuts, freight earnings in the US Gulf market have held firm in recent weeks.

Clarksons Platou Securities estimated VLCC earnings on the Middle East Gulf-US Gulf-China triangulated route at $29,000 per day on Friday, compared with $8,600 per day for the Middle East Gulf-East Asia trade.