Weekly Tanker Time Charter Estimates, August 5 2020
Crude rates remained flat this week with some medium term VLCC fixtures reported around 12-18 months.
An element of positivity for the clean market, although rates remain unchanged. There has been plenty of activity in the MR sector with a number of short-term fixtures recorded. The average rate for an MR for one-year is currently estimated as $13,000/pdpr.
Oil prices moved up this week despite concerns over the recovery in demand.