What are VLCC rates?

What are VLCC rates?

Average time charter equivalent rates for VLCCs are now at minus $22,000 daily, according to the Baltic Exchange. Those assessments do not reflect the higher earnings for scrubber-fitted vessels, nor account for the speed, or the engine efficiency of modern tankers.

How much does an oil vessel cost?

Size categories

Class	Size in DWT	New price
Medium Range tanker	25,000–44,999	$43M
LR1 (Long Range 1)	45,000–79,999	$60.7M
LR2 (Long Range 2)	80,000–159,999
VLCC (Very Large Crude Carrier)	160,000–319,999	$120M

How big is a Suezmax ship?

Suezmax. The largest ships that can transit the Suez Canal, these tankers are some 275 metres (900 feet) long and have a capacity of 120,000 to 200,000 dwt. They carry about 800,000 to more than 1,000,000 barrels. Aframax.

What is Aframax size?

AFRAMAX vessels refer to ships between 80,000 and 120,000 deadweight tons. This ship size is popular with oil companies for logistical purposes, and, therefore, many ships have been built within these specifications.

What is VLCC in shipping?

Very large crude carriers (VLCCs). These ships, with a length of some 330 metres (1,100 feet), have capacities between 200,000 and 320,000 dwt. They carry in the area of two million barrels.

How many VLCC tankers are there in the world?

Number of crude oil tankers worldwide as of April 2020 by type

Characteristic	Number of vessels
VLCC	810
Aframax	668
Suezmax	571
Small dirty tanker	83