Shipping rates continued to decline amid an increasing number of vessels and as refineries in Asia close for maintenance. Rates for Aframax and very large crude carrier (VLCC) on select routes have fallen more than 30% so far this year. During the first quarter, Aframax and VLCC rates were respectively 20% and 40% lower against the year-ago period as constraints on shipping capacity eased.
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about 20 years ago
Shipping rates drop further
Shipping rates continued to decline amid an increasing number of vessels and as refineries in Asia close for maintenance. Rates for Aframax and very large crude carrier (VLCC) on select routes have fallen more than 30% so far this year. During the first quarter, Aframax and VLCC rates were respectiv
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