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VLCCs: Rates Start to Weaken



A general further weakening of rates was seen across this sector. In the Middle East 280,000mt to US Gulf via the Cape/Cape routing is assessed another point down at WS19.5. Meanwhile, 270,000mt to China is now rated five points lower

How the oil market plays out in 2021


Oil prices have tripled in nine months. Brent averaged just US$18/bbl last April, as demand collapsed and the market was swamped with crude. As the effects of the pandemic unfolded, the mood turned increasingly bearish. Ann-Louise Hittle, Head of Macro