VLCC Tanker Market Firming Once More

AI Summary

The VLCC tanker market is strengthening, with reported clean-product tanker indices and round-trip earnings rising. The cited Middle East Gulf routes to Japan and Europe recorded higher rates and daily time-charter equivalent returns.

Clean LR2 The TC1 75kt MEG/Japan index increased by 44.45 points this week to WS927.78. The corresponding Baltic round-trip TCE rose by $14,719/day to $268,877/day. A westbound run on TC20 90kt MEG/UK-Continent saw the index rise by $1.75 million to $17.31 million and the round-trip TCE moving up by $4,568/day to $261,946/day. The TC15 80kt ...