A very tight August tonnage list has seen VLCC rates soar this month, and the good cheer has filtered down to the suezmax sector too.
According to Clarksons Platou Securities, VLCC rates yesterday stood at $42,800 per day, up 47% week-on-week and up 202% month-on-month.
Clarkson Research Services cited the very high fixture count for August as spurring rates. The rollover of tonnage from this month has fallen as low as has been seen all year, tightening the position list considerably.
“[M]ost owners will be optimistic that this firming can continue going forward,” Clarksons noted in its most recent weekly report.
Tanker brokers contacted by Splash today said VLCC rates were now tracking firmly towards the $50,000 a day threshold.
Fearnleys noted that the strong VLCC market has boosted sentiment for suezmaxes too. “Owners are finally smelling money,” the Norwegian broker noted yesterday.