VLCC Market Trends

摘要

The VLCC market saw the lowest average monthly earnings since May 2019 in January at just $9,674/day, falling 49% m-o-m. Earnings have continued to trend downwards into February, falling to below $4,000/day by mid-month.VLCC dwt demand is expected to grow by 3.1% in 2021, following a sharp decline of 5% in 2020. The maintenance of deep OPEC+ crude oil production cuts is expected to limit the 'bounceback' in demand for VLCCs this year.