The climb in VLCC tanker rates in early December has turned into a surge by mid-month, taking the market by surprise and leaving charterers forced to reconsider their freight costs for loadings into early 2008. By the end of last week, owners were able to charge more than W300 for early January loadings for East-bound VLCC trades (see Newswatch, p4). As Fairplay went to press, a double-hulled VLCC was reported fixed to Thai charterers at W312.5 for a 275,000-tonne crude cargo from the Middle East to Thailand and a single-hulled vessel carrying 255,000 tonnes of crude was taken at W290 for Gulf/Taiwan.
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