VLCCs enjoy the most impressive summer rally on record

From early June until middle of August, time charter equivalents (TCEs) for non-eco tonnage rose by $65,000 per day, finally dragging the sector out of its loss-making habits, which had been impossible to shrug off throughout the first half of the year. Non-scrubber VLCCs are now earning more than $40,000 a day, a remarkable, unseasonal turnaround.

Equatorial Guinea Detains a VLCC Accused of Oil Theft by Nigeria

A 300,000 dwt VLCC got into a dispute with the Nigerian authorities last week and was ultimately chased down and detained by the navy of neighboring Equatorial Guinea while the dispute is being investigated.
loading More