VLCC Tanker Market Could be Headed for a Slowdown
in Hellenic Shipping News 06/11/2018
The VLCC tanker market has had a good run of late, but could be headed for a correction in the coming days. In its latest weekly report, Affinity Research said that “the rally of the VLCCs continued throughout this week as well, where TD3C and TD15 reached WS 100 and WS 95 respectively. This kind of levels have not been noted from January 2016. However, this is expected to be the peak of the market, as with nearly 8 offers coming out from the AG, the market will get calmer. Regarding Suezmaxes in West Africa, TD20 was assessed the same as the previous week, however sentiment is good due to the supply of the Carribean and the AG . Approximately 25m bbls are needed to be covered in the 3rd decade so done the market has potential as we move deeper into the month. What December will bring, will rely on the fate of the WTI/DME spread & impact of delays in the Far East & Turkish straits”.