Atlantic Tanker Earnings Fall Faster Than Gulf Earnings

AI Summary

Tanker earnings declined across all 16 dirty-tanker benchmarks, with Atlantic and Mediterranean routes seeing the steepest drops. US Gulf–China VLCC earnings fell 16.2% to about $415,000 per day, while Middle East Gulf–China earnings declined 4.8% to $1.29 million per day.

The TD3C/TD22 earnings ratio rose from 2.73 on 30 October to 3.10 on 6 November, as US Gulf–China VLCC earnings fell 16.2% to around $415,000/day, against a 4.8% decline on Middle East Gulf–China to $1.29 million/day. All 16 dirty tanker benchmarks fell over the week, with the steepest declines in the Atlantic and Mediterranean. Several ...