Weekly Tanker Time Charter Estimates, August 30 2017
Tropical Storm Harvey, which has flooded the USG Coast, severely damaged the region’s refining capacity and increased the crude inventories as refiners are no longer able to take more oil. Gasoline futures and other refined product futures and prices continued to soar on fears of fuel shortages across the region.
On the prolonged weak tanker market there are still players acting opportunistic and looking for attractive opportunities over the 3rd Quarter of the year. Modern MRs charterers for 1 year t/c can achieve at the moment just over $13,250/pdpr.