Spot market rates have picked up somewhat on certain routes. If we were to pick any sector of the crude market for potential to improve, it would be the VLCCS as there has been a little bit of interest from charterers for one-year TC. Uncertainty over the future is holding them back but as soon as there is some clarity the VLCCs will be the first to move.
Very little to report on the clean side in terms of fixture activity.
Oil prices climbed above $80/barrel for the first time in three years off the back of the energy crisis in Europe.
