Global VLCC tracker: Freight rates dive on weak market, tonnage glut

摘要

London-The count of ships in the Middle East has swollen to a six-week high while the volume of vessels bound for the region has slumped, cFlow, Platts trade flow software, showed Wednesday, as slowing activity in the Persian Gulf has led to an oversupply of tonnage and a diversion of ballasters in the Far East to West Africa. A total of 167 VLCCs were observed in the Middle East, marking a rise of 15 from the previous Wednesday and last higher on December 2. At the same time, ships sailing for the region fell to a four-week low of 85, down six week on week.