Tanker rates have surged again in the last 24 hours, seeing out 2019 in fine fashion, with VLCCs leading the way, leaping by as much as 20%.
In a stunning day of tanker fixtures, Global Energy Maritime Corp’s 2017-built Gem No.5 was taken on subs for a mid-January trip from the Arabian Gulf to China at WS139, a time charter equivalent of $133,000 per day.
More remarkably, a vintage 2000-built VLCC, Lavalis, belonging to Seven Islands Shipping, was taken on subs from the Arabian Gulf to the west coast of India for a mid-January trip, clocking in at $116,000 per day.
While VLCCs enjoyed the biggest gains, all tanker classes soar their earnings potential rise in the last 24 hours, with LR2s, for instance, jumping 14% to $43,000 a day. Data from Poten & Partners yesterday shows aframaxes are currently trading at more than four times their 2019 average figure.
Most significant #oil #tanker spot rate movements today:#VLCC +20% to $126k/d#Aframax +7% to $78k/d#LR2 +14% to $43k/d#LR1 +7% to $31k/d#MR +8% to $24k/d#shipping #OOTT $FRO $ADSCME $DHT $EURN $TNK $OET $HUNT $NAT $STNG $INSW $TNP pic.twitter.com/ccizd6cHWt
— Joakim Hannisdahl (@JHannisdahl) December 30, 2019
Poten daily confirms the large move up in tanker rates today. They have VLCC's at a sweet $121.3k. Other rates below: pic.twitter.com/VSQUzrUUVc
— Joeri (@joeriwestland) December 30, 2019