Why So Weak?
VLCC spot earnings averaged just $500/day on the benchmark TD3C trade during the 1st half of this year on slow steaming, non scrubber, non ECO basis; marking the lowest half yearly result since our records began in 2000. Although returns in other segments have also been far from healthy, VLCCs have been the worst performer, earning less than even Handy/MR tankers on benchmark round voyage trades.
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