Asian VLCC tanker rates jumped more than 50% week on week, with port delays thinning vessel supply against a background of higher-than-usual cargo demand, market participants said Friday. The key VLCC Persian Gulf to Japan rate was assessed at 93.5 Worldscale points basis 265,000 mt Friday, up w32.5 from last Friday. “The VLCC spike is from China delays, plus delays in Basrah and to a lesser extent, Venezuela. There are also plenty of cargoes of course,” a Singapore-based broker said. Faced with a limited vessel supply, charterers were heard working privately with owners or holding back from fixing, said sources. Article continues below… “For loadings before April 25 the position list isn’t pretty for charterers, so those with such cargoes will have to get [into the bullish market],” a charterer said. Sources said there was robust demand for VLCCs. With over 107 cargoes heard fixed on VLCCs so far […]