Weekly Tanker Time Charter Estimates, August 26 2020
Little excitement in the crude market with rates moving more or less sideways this week. Some short-term TC fixtures were reported and the average rate for a VLCC for one-year is currently estimated as $30,000/pdpr.
Clean rates have remained flat this week with very little reported in the way of period activity.
Oil prices continued to move up as the American Petroleum Institute (API) reported a large draw in crude oil inventories.