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WAF VLCC Rates Down 13% on Day: Platts

FREIGHT

VLCC freight rates for voyages loading in WAF fell by more than 10% on the day Feb. 21 amid a rebalancing of supply-demand fundamentals after an earlier rise in rates in Feb, Platts said.

  • The 260k mt WAF-East route on Feb. 21 was $26.31/mt, down 13% on the day.
  • “The market was being heavily overpriced last week, but now there's a shortage of cargoes and the [tonnage] list is opening up with relets piling in," a London-based VLCC broker told Platts.

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