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Weekly Tanker Time Charter Estimates, August 23 2017

It has been 2 years since the discovery of the Liza oil field and Exxonmobil announced that they have discovered more oil in the Payara reservoir off the coast of Guyana, which increases the total discovery to approximately 500 Mbbls.

Caribs has started to become a point of interest since the major reservoirs discovery in 2015 and it seems that the trend will continue as more foreign companies are looking to invest in exploration around their islands.

Tanker period rates across the board remained stable this week with slightly decreased VLCC rates for 1 year t/c period.

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