Weekly Tanker Time Charter Estimates, July 26 2017
Oil prices rise for a 3rd straight session after US crude stockpiles fell by 10.2M bbls last week.
Brent crude futures were up reaching $50.37/bbl, while US WTI futures climbed 28 cents to $48.20/bbl this morning.
On the shipping side, we have noticed some bidding in the West for MR2 tankers at very positive levels for 1+1 year t/cbut still waiting to see if the deals will materialise. At the moment MR2s achieve around $13,250pdpr for 1 year t/c while bigger Aframaxes can achieve mid $14k levels for the same period.