Tankers: VLCC Market Maintains Weakness Pattern

Clean LR2 LR’s in the MEG have rocketed this week. The 75kt MEG/Japan TC1 index rose almost 115 points to WS353.89 ($101,134 per day TCE round-trip). The 90kt MEG/UK-Continent TC20 run saw rates significantly improve while Red Sea transits have been met with resistance by most owners and now is being freighted close to $8.45 …

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