Consultant: VLCC rates have resumed their climb

Consultant: VLCC rates have resumed their climb Tanker rates for very large crude carriers (VLCC; larger than 220,000 dwt) trading internationally fell precipitously at yearend 2004 to $35,000/day, after reaching record highs earlier in the year of more than $200,000/day (Fig. 1). An analysis by New York-based shipping consultant Poten & Partners, however, shows that movement as temporary.

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