VLCC Tanker Rates Surge Past $200,000 Per Day on Hormuz Crisis

VLCC earnings explode past $200,000/day as Strait of Hormuz crisis strands 40 supertankers and forces wholesale reorientation of global crude oil trade.

Tanker Earnings Explode to Multi-Year Highs

Very Large Crude Carrier time charter equivalent earnings have surged past two hundred thousand dollars per day on key benchmark routes, a level not seen since the unprecedented tanker market of early 2020 when pandemic-driven storage demand sent rates to record levels. The Baltic Exchange's dirty tanker index,…