The current VLCC market is in dismay with spot rates of around $6,000 per day, way below the break-even cost of over $20,000, but that does not mean there are no good reasons to order ships.
Banchero Costa shipping analyst Ralph Leszczynski said 2018 will be a tough year for VLCCs. He attributed the poor market to “the destocking period of oil” and delivery of VLCC newbuildings.
