The dirty market remains in a weak state with very little activity on the timecharter front

Another quiet week for the crude market thanks to the ongoing lunar new year celebrations in the far east and this has put pressure on timecharter rates

A quiet week for Crude with little reported in the timecharter market, fixtures reported focused on optionality and charterers looking to lock in periods to provide cover

On the crude side, the period market has picked up this week with some short-term fixtures reported but rate levels remain low

A quiet week for crude as decreasing demand in the Middle East put pressure on the market

In the crude sector there has been very little period enquiry this week

A quiet week on the whole for crude as new lockdowns around the world put further pressure on oil demand. Some interest has been reported in the VLCC sector for fixtures for one-year and the average price is currently estimated as $28,750/pdpr. The focus in the clean market this week has been on MRs for one-year indicating some confidence on longer periods. Oil prices continued to move higher following the news of the OPEC+ cuts and a weaker dollar rate.

A number of timecharter fixtures reported over the last few weeks for VLCCs across all periods, rates for one-year moved up to $28,000/pdpr.

In the crude sector, there has been some interest for short term VLCC deals with a couple of fixtures reported.

In the crude market there has been some interest in short-term VLCC period fixtures although it has been quiet for the rest of the market.

In the crude market there has been some period activity around the six months to one-year mark and VLCC rates for one year have moved slightly higher to an estimated $24,500/pdpr.

The crude market moved sideways this week. In the VLCC sector there has been some period interest of around 12-15 months, according to Alibra’s estimates the average rate for one year is estimated to be $24,000/pdpr.

It is too early to gauge the impact on the tanker market of news of two new Covid-19 vaccines over the past week. Global markets have reacted positively to this news and sentiment for tanker demand seems to be ever so slightly more

The crude market has remained flat this week as low demand continues to plague the market, some short term period activity has been reported in the Aframax sector and the average rate for one-year is currently estimated as $16,000/pdpr.

Crude rates remain under pressure as the usual Q4 spike seems unlikely to materialise. A few short term VLCC fixtures have been reported this week mostly around or below the six-month mark.