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Weekly Tanker Time Charter Estimates November 01 2017

Oil prices continued to climb this week to levels we haven’t seen since mid 2015 boosted by the improved compliance from OPEC and Russia will extend its deal to cut crude output.

On the shipping markets VLCC spot rates race seems to have stopped now, with MEG-East rates to be holding at WS 70.

Period rates also a bit more positive this week for VLs reaching $27,000/pdpr for 1 year t/c, while Suez rates for the same period estimated to be $18,750/pdpr.

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