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Weekly Tanker Time Charter Estimates, April 28 2021

A sluggish week for crude and very quiet week in terms of period fixture. Rates overall remained flat with some small discounts, the average rate for a VLCC for three years dropped $1,500 to an average of $36,000/pdpr.

Very little timecharter activity reported in the clean sector as owners eagerly await some form of improvement. However with the Covid situation worsening in countries such as India and Brazil it is difficult to predict when this recovery may begin.

Oil prices have risen this week on news that OPEC+ believes the market will be able to accommodate higher oil supply from the beginning of May.

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