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VLCC earnings hit $100,000 as sanctions bite

Earnings for very large crude carriers on US Gulf to South Korea trade have hit the $100,000 per day for the first time since January 2016 as charterers rushed to fix vessels amid tightened tonnage availability paying huge premiums

With heightened geopolitical risk and improved market sentiments, brokers expect the market to remain strong throughout the winter and into 2020

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