Owners are starting to order VLCCs, with spot freight rates hitting three-year highs, Pareto shipping analysts have noted. "Last week, a 2014-delivery reportedly switched hands for nearly $90M, and this week DHT Holdings raised about $110M to fund a pair of newbuilds. While the interest might fade, as rates are expected to come down again into 1Q14, we expect the supply/demand balance to develop more favourably - mainly driven by a significant delivery pace during the next three years," the analysts added.
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