Tanker earnings and shares are rising as shipowners turn bullish on more opportunities for floating storage and forecast rising crude exports from Middle East.

On the Baltic Exchange, spot earnings of VLCCs on the benchmark TD3C Middle East Gulf (MEG)-China route were assessed at $38,694 per day as of Monday afternoon, up $8,355 from Friday’s level.

Tanker International data showed the 308,000-dwt Kasagisan was provisionally fixed by Unipec for this trade, with a loading date on 24 March. Rate information is not immediately available.