Oct. 29 at 4:01 PM
$ECO $FRO $CMBT $NMM Fearnleys report on VLCCs
VLCC
The short-term supply/demand picture in the MEG is now not far off 1:1 and we are approaching a “pick a number” territory. W122.5 has been printed for a MEG/China run and owners will peg it north of that now for sure. The Atlantic is following suit, USG/east reported paid USD 13 million a couple of times despite the arbitrage not supporting such numbers, and Brazil-West Africa export is probably in 3 digits eastbound too.