Maritime Strategies International (MSI) is tipping VLCCs to join the rest of the tanker sector in the black, but the company does not seem confident.

As it stands, average time charter equivalent rates assessed by the Baltic Exchange have VLCCs deep in the red as Chinese oil demand lags thanks to Covid-19 restrictions while suezmaxes and aframaxes are both earning above $20,000 per day.

In its monthly Horizon report, MSI said there was reason to believe VLCCs would improve as China eases restrictions — but that was no guarantee.