Supertanker Rates May Rise on Demand, Africa, Dynacom Says
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Ody Valatsas, chartering manager at Dynacom Tankers Management Ltd., comments on the market for supertankers lifting 2 million-barrel cargoes of Middle East crude oil.
Very large crude carriers, or VLCCs, can earn $22,712 a day more loading in West Africa than in the Persian Gulf, according to data compiled by Bloomberg yesterday. Returns on the industry’s benchmark Saudi Arabia to Japan route yesterday declined 6.2 percent to $14,412 a day, a rate that’s unprofitable for some owners.