Weekly Tanker Time Charter Estimates August 08 2018
There has been steady interest in the period markets for crude. However, as the market enters the holiday season, we anticipate a quiet few weeks ahead as owners and charterers get in to the holiday mood.
A mixed week for clean with LR1 rates for two and three years down but Handy rates for one year and three years were up to $11,650 and $13,750.
Crude imports to China recovered slightly in July after falling for the previous two months. However, figures were still amongst the lowest this year due to a fall in demand from teapot refineries.