Hunter Group is making a clear return in the spot market after taking delivery of its second chartered-in VLCC.
The unnamed tanker joined the fleet in the middle of March, with Hunter paying $51,000 per day over three years.
The Oslo-listed company said on Tuesday that its average spot-linked charter-out rate for the two VLCCs was $57,208 per day during March.
The VLCC are fixed in for an average of $51,966 per day.
They were chartered out for 48 days last month, with a margin of $5,242 per day, giving Hunter a net gain of $252,282.
UK broker Howe Robinson Partners assessed spot VLCCs from Saudi Arabia to China down at $36,900 per day on Monday.
And Atlantic VLCC spot rates dipped to their lowest level since the early days of 2024 as cancellations of charters for Venezuelan cargoes added further worries to the market in the near term.
But rising oil prices are adding to optimism that producers will pump more volumes into the Atlantic and Pacific markets.
Fixed back to owner
Hunter’s second VLCC was fixed straight back to its owner on a floating rate linked to the Baltic Exchange’s benchmark tanker assessment.
On 15 March, the index-linked spot rate was $64,100 per day, implying a daily margin of about $13,100 for the ship.
During February, Hunter achieved an average rate of $57,000 per day for its sole big tanker up to that point.
That ship earned $54,200 per day in December and $48,260 per day in January.
