Singapore-Worldscale rates for VLCCs on East of Suez routes are at the lowest levels seen so far this year, breaching the important psychological mark of w50, due to an oversupply of vessels and lower demand ahead of the refinery maintenance season in Asia. The key VLCC route from the Persian Gulf to Japan was assessed w1.5 points lower Thursday at w49.25, the first time that it has fallen below w50 this year, Platts data showed.
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