Freight rates begin to recover from year-plus lows for VLCCs departing the US Gulf Coast

Freight rates for VLCCs traveling on trans-Atlantic routes out of the US Gulf Coast are recovering from year-plus lows brought on by finnicky demand for US crude exports and ample ship availability, a trend seen impacting all ship classes moving oil and refined products, according to market sources. Platts, part of S&P Global Commodity Insights, assessed the rate for USGC…Freight rates for VLCCs traveling on trans-Atlantic routes out of the US Gulf Coast are recovering from year-plus lows brought on by finnicky demand for US crude exports and ample ship availability, a trend seen impacting all ship classes moving oil and refined products, according to market sources. Platts, part of S&P Global Commodity Insights, assessed the rate for USGC…Read More