Weekly Tanker Time Charter Estimates, September 6 2017
Oil prices were up again today due to the strong global refining margins and the successful reopening of USG refineries.
Focus now has being drawn to Hurricane Irma, which is moving towards the Caribs & Florida and could knock out other refineries. The East of Suez VLCC tankers saw a an increase in activity as Chinese charterers were seen arranging shipments under their COA deals however 1 year t/c rates are hovering at $26,000/pdpr. MR2’s saw a slight increase in the t/c rates for 1 year especially for delivery west with an average rate of $13,600/pdpr.