Owners of very-large crude carriers (VLCCs) have been able to charge extraordinarily high rates to charter out their vessels so far this month. Spot prices for chartering a 270,000-ton vessel from the Gulf to China reached over $87,000/day (WS98) on 16 September, according to data intelligence firm Kpler.
That is more than double the $42,000/day price on 2 September, and even higher than levels reached briefly during the Israel-Iran 12-day war in June. Average rates in the first half of September are at their highest in more than two years (see chart). (CONTINUED - 783 WORDS)
