Guolian Minsheng's shipping high-frequency data note reports that VLCC spot rates rose across all routes in the week to October 9, with the Middle East-China mainline TCE reaching $1.68 million/day, up 7% week-on-week. Container rates were stable on US routes and slightly higher on Europe, while the Baltic Dry Index fell 7%.
The broker highlights a broad-based uptick in VLCC rates and stable container rates, pointing to improving sentiment in the tanker market.
Free preview — more China A-share & HK research · About Us · Legal & Privacy