Market outlook of VLCCs in the next 5 years

The purpose of this paper is to analyze the Very Large Crude Carrier (VLCC) market and come up with an opinion on whether it is worth entering the market in the next 5 years. The analysis would look at the demand and supply of VLCCs which determines the VLCC freight market. Using the historical time charter equivalent (TCE) over the last 5 years as a measure of freight, the VLCC freight market would be segmented into 5 bands, classified under very weak, weak, steady, strong and very strong condition. Based on the analysis and the projections of the demand and supply of VLCCs, the strength of the freight market is likely to fall under the very weak condition (between US$14,643 to US$55,765) in the next 5 years.Bachelor of Science (Maritime Studies