A flat week for the crude period market as sentiment for a rebound in Q4, traditionally a strong quarter for tankers, is looking uncertain. Many market players are now looking ahead to Q1-Q2 20201 for a rebound in demand.

A spurt of short term VLCC period fixtures for storage play have been reported in the last few weeks but rates overall are moving lower.

Little excitement in the crude period market this week with rates for one-year moving lower, the average rate for a VLCC for one-year is down slightly from last week to an average of $27,250/pdpr.

In the crude market there has been some interest in short-term fixtures After the flurry of fixtures a few weeks ago,

After a few weeks of increased interest in the crude sector, the drive behind the VLCCs has slowed with some fixtures failing as hopes of a second floating storage boom fade away.

The crude timecharter sector has been the focus of the tanker market this week with the spotlight on the VLCCs following a flurry of short-term fixtures

On the crude side, rate levels remained low as the market has yet to pick up following the summer season.

An unremarkable week in the crude market with some interest in shorter periods for VLCCs of around three to six months.

Little excitement in the crude market with rates moving more or less sideways this week. Some short-term TC fixtures were reported and the average rate for a VLCC for one-year is currently estimated as $30,000/pdpr.

Chinese buyers struck deals to buy 195,000 tonnes of American corn, the U.S. Department of Agriculture said on Tuesday, as China grapples with spiking domestic prices. China’s demand for corn to feed animals has increased as its pig herd has rebounded more quickly than expected from a deadly swine disease first detected in the country two years ago. Chicken producers are also pushing ahead with aggressive expansion plans, according to traders in China. Chinese corn inventories have dwindled following years of government efforts to whittle down a previously massive stockpile. ...

Weekly Tanker Time Charter Estimates, August 19 2020

Period rates for crude have remained stable on the whole this week and the average rate for a VLCC for three-years is currently estimated as $36,000/pdpr.

Crude rates remained flat this week with some medium term VLCC fixtures reported around 12-18 months.

The crude market has been quiet overall with the summer season underway, some activity has been reported in the Aframax sector mainly focused on short-term.

The crude period market has been quiet this week except for one fixture for a modern VLCC reported for two years at around $31,000/day.