Tanker bulls are showing no sign of stopping as vessel supply across the globe is tightening on seasonal demand and the removal of tonnage linked to Cosco Shipping Energy Transportation (CSET), the world’s largest crude tanker owner by capacity.

Based on Poten & Partners’ assessments, spot VLCC earnings on the Middle East Gulf-East Asia route reached $120,000 per day on Tuesday, up from $103,000 per day the previous day.

Data from Tankers International shows Awilco’s 299,999-dwt Eco Future (built 2016) was provisionally booked by Hyundai Oilbank to lift crude from the Middle East between 27 and 29 October for a shipment to South Korea at Worldscale 127.5.