As the Financial Times points out today, 2015 has been a tale of two shipping sectors. On one hand, dry bulk shippers are reeling as rates for the transportation of bulk commodities, such as grain and iron ore, languish at record lows. But on the other hand, oil tanker rates are at eight-year highs and the industry is booming. Day rates for the largest tankers, VLCC’s are up 44% from the same period a year ago to $111,000 on the benchmark Arabian Gulf to Japan route. Average rates for VLCCs are now around 50% above their 25-year average spot rate,…
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