A flat week for the crude market and although the global energy supply shortage has boosted sentiment somewhat, this has yet to translate to any upwards momentum in rates. On the clean side, there has been some demand for LR2s this week with interest shown from charterers for both eco and non eco vessels, one-year rates for this sector remained at an estimated $16,500/pdpr. Oil prices surged to the highest levels in three years fueled by hopes of rebounding global demand and energy shortages in key economies such as China.

In the crude sector we have seen some short term timecharter fixtures reported this week across all sectors

Spot market rates have picked up somewhat on certain routes. If we were to pick any sector of the crude market

Some VLCC fixtures have been reported in the crude sector this week but this has had little impact on rates as sentiment remains low.

A few short-term period fixtures reported in the crude sector this week and this has given the market a slight sense of optimism

In the crude spot market, rates firmed slightly as more cargo entered the market but this has yet to have an impact

Little change in the crude market from last week, some short-term period interest has been reported however with rate levels remaining low

With a grim outlook for the rest of the year, it’s becoming increasingly difficult to be optimistic for this sector

Some very short term aframax fixtures reported in the crude market although rates remain flat

Very little period activity reported in the crude sector once again this week

Limited activity for crude once again this week with period rate assessments for VLCCS

Little change in the crude market from last week, although there have been rumors of some short-term period fixtures from oil majors as companies

Despite the announcement from OPEC+ that oil production will increase in the coming months, to meet rising demand, the crude market has

The crude market remained negative this week with very little signs of interest in period enquiry

Very little period activity reported in the crude sector once again as the market remained subdued