Temptingly low prices have already seen more than twice as many VLCC orders placed this year than in the whole of 2016.
Shipbroker Gibson notes than around 30 VLCC contracts have been signed in 2017 to date. Just 13 were inked for the whole of last year. Moreover, many owners are in advanced discussions with Asian yards for more VLCC orders, the broker reports.
“[N]ewbuild prices appear to be too attractive to resist,” Gibson maintained, pointing out that tanker newbuild values have reached their lowest levels since late 2003/early 2004.
However, access to capital remains tricky with Gibson observing that it is only those with “strong financial muscle” who are likely be in a position to capitalise on the current prices on offer.
