Spot freight rates for supertankers (VLCCs) are breaking period records, with China identified as the primary driving force behind the surge.

A Huge Bet on Supertankers Reverberates Through the Oil Market  Bloomberg.com

The world’s largest charterers have launched a “rally” to secure free tonnage for the 300,000-ton supertankers that carry 2 million barrels of crude. Supertankers break the 200,000 per day barrier – Greek shipowners lead the way - Η ΝΑΥΤΕΜΠΟΡΙΚΗ

Daily rates for supertankers have surpassed $200,000, driven by a global scramble for available tonnage, with Greek shipowners playing a prominent role in the market.