AG-Asia VLCC rates plummet on tonnage glut

摘要

Freight rates for VLCCs plying teh Arab Gulf-Far-East/Singapore route are plum-meting after a 300% surge in the last two weeks, shipbrokers acknowledged Tuesdasy. Rates had soared from Worldscale 42 to w128 between May 6 and May 15 brefore dipping to w120 on May 16-19.