VLCC rates east of Suez plummet on glut of tonnage

摘要

Freight on very large crude carriers(VLCCs)east of Suez was seen falling sharply in the week to Mar 24,as Japanese and Korean relets continued to cause tonnage oversupply and drag rates down.After a period of thin fixings,Saudi Aramco's shipping arm,Vela,paid Worldscale 62.5 Tuesday for three vessels going AG to the US Gulf Coast.The three vessels were Crude Star,Crude Creation and Crude Progress,but large ship owning groups were still said to be resisting such rates.The fixtures were sharply down on the previous week,with AG-USGC seen around the w99 level.West of Suez saw a slight easing in VL rates,although tonnage was said to be on the tight side.