Weekly Tanker Time Charter Estimates September 13 2017
Crude inventories rose by 6.2 Mbbls by the end of last week to 468.8 Mbbls, beating for one more time analysts’ expectations.
WTI was unchanged at $48.23/bbl early this morning after rising again during the day, while Brent crude was down $0.13 at $54.14/bbl.
The spread rose by 11 cents to $5.41 in the favour of the Brent, as Hurricanes continued to impact demand for both Cpp & Dpp in the US.
MR market in AG is still going up, however it is not expected to stay there for long. The t/c market relatively stable with Aframax and LR2 rates which expected to achieve $14,500/pdpr and 15,000 for 1 year contracts respectively.