The supply of supertankers competing to load cargoes of Persian Gulf crude fell to a nine- month low, according to Marex Spectron Group.
There are 54 very large crude carriers available in the gulf over the next four weeks, Kevin Sy, a Singapore-based freight-derivatives broker at Marex Spectron, said by e-mail today. That’s the fewest VLCCs in the region since June 7, he said. Each of the ships can hold 2 million barrels of crude.
Daily returns for VLCCs plying the industry’s benchmark Saudi Arabia-to-Japan route jumped 20 percent yesterday to a 13- month high, according to the London-based Baltic Exchange. They rose as U.S. investment bank Dahlman Rose & Co. said Iranian output is “at risk of coming off line,” potentially disrupting supply and supporting higher freight rates for tankers.
“There are more than 15 cargoes available until April 20,” said Sy. “The supply of VLCCs until this date has dwindled to about 28.”
VLCCs on the benchmark voyage, the industry’s busiest trade route, are earning $35,531 a day, the most money since Feb. 21, 2011, the exchange’s figures show.
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