WAF VLCC market remains in the doldrums despite onset of fourth quarter

Rates for Very Large Crude Carrier voyages loading in West Africa have so far failed to mount a sustained recovery from the lows experienced during the summer months of 2024, with sources pointing to an oversupply of tonnage, lower-than-expected cargo inquiry levels and weakness in the key Persian Gulf and US Gulf markets. Platts, part of S&P Global Commodity Insights,…Rates for Very Large Crude Carrier voyages loading in West Africa have so far failed to mount a sustained recovery from the lows experienced during the summer months of 2024, with sources pointing to an oversupply of tonnage, lower-than-expected cargo inquiry levels and weakness in the key Persian Gulf and US Gulf markets. Platts, part of S&P Global Commodity Insights,…Read More