Weekly Tanker Time Charter Estimates, August 12 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.

In the clean market the focus has been on MR the sector, the average one-year rate for this size vessel is $13,500/pdpr.

Oil prices have moved up this week as the EIA reported larger than expected drawdown in US crude inventories.