Weekly Tanker Time Charter Estimates, January 11 2017
Looking back, this time last year things across the oil and chemical tanker industry appeared too good to be true.
Despite the crisis in the global economy, freights were rising while bunker prices remained low and cargo flow was strong.
Now everybody seems to be waiting to see the direction of the market and how quickly the global oil market will rebalance through production cuts.
Just a handful of TC fixtures this week showed that rates remaining around the same levels with MRs being able to achieve around $13,000/pdpr or
even higher for 1 year period TC. Rates for the bigger LR1s fixed for the same period expected to be just above $14,000/pdpr.