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Weekly Tanker Time Charter Estimates, December 08 2021

A few timecharter fixtures reported in the crude sector this week, although we would expect more activity at this time of the year with owners and charterers usually keen to put deals together ahead of the Christmas period. However, uncertainty surrounding the new Omicron variant has left charterers unwilling to commit until there is more information about the severity of the new variant and the likely impact that this could have on demand.

On the MR side, the threat of new travel restrictions and further lockdowns has put pressure on the period market and as such there has been little reported in terms of timecharter activity. MR rates for one-year moved lower to an estimated $13,500/pdpr.

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