VLCC Market Is Bottoming Out

AI Summary

Tanker market indicators were mixed, with some clean-product route benchmarks falling and others rising, alongside substantial changes in reported round-trip earnings. The headline says the very large crude carrier market may be bottoming out, but the provided figures also cover clean LR2 routes.

Clean LR2 The TC1 75kt MEG/Japan index shed 99 points this week to WS1003, with the corresponding Baltic round-trip TCE falling by $33,200 to $288,700/day. For the TC20 90kt MEG/UK-Continent run, the index edged up by $43,800 to $21.86 million, corresponding to $342,700/day on Baltic round trip. The TC15 80kt Mediterranean/East index dropped by $830,000 ...