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You are here: Home → Archive → 2009 → Feb → 19 → Demand for single-hull VLCCs spurs 20% rate rise

Demand for single-hull VLCCs spurs 20% rate rise

by Obsidian — last modified Feb 19, 2009 12:00 AM

Charter rates for very large crude carriers should reach W50, or US$45,000 per day, during this week.

After a moribund few weeks, brokers said the VLCC market was on a bullish run as spot rates rose almost 20% last week.

Charterers seeking double-hulled VLCCs to take crude from the Middle East to Asian terminals were paying up...

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