It started more than a week ago, and VLCC rates continue to remain elevated. The article mentions the rate in Worldscale (WS). But, I have seen mention of rates over $100K daily for ECO-type VLCCs
As noted in the article, during the Summer, Saudis and likely other Middle Eastern countries utilize crude supllies for power generation. But, as the weather turns cooler, that need goes away and more crude is available for export. I am sure the other dirty tanker categories are also benefitting. Will see what the rates look like when a broker reports rates on some routes at the end of the week.
Separate note: Dry bulk rates doing well too (But this is traditionally dry bulk shipping’s strongest quarter)