Jan 11, 2015
Thanks for the info Mastermariner, good to know. I posted a similar article a few days ago that said this about booking rates for takers:
"The shipping lists indicate the trading firms have been able to hire the VLCCs for less than $40,000 a day - well below spot rates of between $60,000 to $70,000 a day. Average earnings reached $97,000 a day in December - the highest in years - and had so far put off many oil traders.
The lower rate has been possible to arrange, brokers said, by agreeing to take some older and less fuel-efficient vessels for up to 12 months."
That's where I got the $60-90 figure, which surprised me because I've also heard of tankers going for less than $20k, but of course the market is real cyclical. I know Jones Act tankers have been going for $120-$160 in the past year, but they wouldn't be chartered for storage.