VLCC owners have received a confidence boost in the wake of Opec cuts with high fixing levels and floating storage aiding the market, Clarksons Platou Securities says.
It places rates out of the Middle East for Asia at $54,000 per day, up by more than one tenth in the past week.
Analysts Herman Hildan and Frode Morkedal explain generally high chartering activity this week has given owners back their confidence after last week’s blow from Opec’s decision to cut output in the first half next year.
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