Abu Dhabi-listed Al Seer Marine is the latest VLCC owner to capitalise on a buoyant long-term charter market.

The company’s 300,000-dwt Acrux (built 2020) has been reported fixed to Norwegian oil major Equinor over three years at more than $50,000 per day.

This compares to spot rates of around $4,000 per day from the Middle East to Asia currently, with charterers looking to secure tonnage ahead of an expected spike in rates over the winter.