Whilst the rate levels have come off during the week, there still seems to be a reasonable balance.

VLCC rates remained positive in nearly all loading areas, the biggest gains were in the Caribbean with a west coast India bound carqo fixed 8% higher at US$4.00 million.

A Singapore holiday mid-week disrupted trading for the big ships particularly in the East and although rates dipped, the key West Australia/China run was slipping under the mid US$8.00s for 3-6...