VLCC Market: Is the Bottom In?

Clean LR2 LR’s in the MEG were subject to increased downward pressure again this week. The 75Kt MEG/Japan TC1 index dipped 15.28 points to WS135.28. The 90kt MEG/UK-Continent of TC20 similarly was knocked down to $4.2 million (down $356,250). West of Suez, Mediterranean/ LR2’s on TC15 dropped $641,000 below $4 million to $3.49 million. LR1 …

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