VLCC rates continue to climb, with some vintage tonnage earning top dollar in the spot market.
According to Clarksons, the fleet weighted average for the largest tankers hit $62,900 per day on Monday.
This is up 13.4% from last week on the back of the surging Middle East Gulf to China route, which gained just over 19% week on week to reach $65,500 per day for a scrubber-fitted, eco-designed vessel.
“A tighter market in the Middle East was a key driver of the increase in rates, and with continued scarcity of tonnage supply in the region, shipowners remain optimistic as April fixings commence,” the shipbroking giant said in its report.
DHT and Maran Tankers Management cashed in on the rising rates, fixing older ships for high rates, data from Tankers International showed.
On Monday, DHT’s 301,000-dwt DHT Bauhinia (built 2007) was fixed to NSRP for a voyage from the Middle East Gulf to Vietnam at $77,521 per day.
The 320,900-dwt Maran Aries (built 2006) was taken by S-Oil at $91,245 per day on Friday for a voyage from the Mediterranean Sea to South Korea.
The voyages are set for early April. Both ships are fitted with scrubbers.
Maran also snagged an $80,000 per day fixture on Thursday for the 300,000-dwt Maran Mira (built 2020), fixed to Petrobras for a Brazil to UK/Continent voyage in mid-April.
VLCC rates have shown steady improvement over the past several weeks, following a mid-February rally.
Earnings began March at $40,202 per day, according to the Baltic Exchange, and shot up to $51,090 per day on 5 March.
Rates fell back the next week, but have slowly crept up from $46,386 per day on 8 March to $51,198 per day on Monday.
