Weekly Tanker Time Charter Estimates, April 29 2020

Although crude rates have experienced a slight correction in the past few days it has still been a very strong week for the tanker market with many period fixtures reported, particularly for VLCCs with the focus around the 6-month mark.

The clean market also remains very firm with continued interest in short term MR and LR2 fixtures, up to one year. The average rate for an LR2 for one-year is currently estimated as $38,000/pdpr.