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Weekly Tanker Time Charter Estimates, December 15 2021

Very little to report in terms of timecharter activity in the crude sector this week, and rates have remained flat overall. However, news that China, the world’s number one importer of crude, has ramped up its imports has been welcomed by investors. Imports were up in November to 10.17mbpd, a considerable jump from 8.9mbpd the previous month. The slump in China’s crude imports in recent months has been one of the main pressures on the tanker market, particularly the VLCC sector.

A fairly lacklustre week for the clean sector with little timecharter activity reported as restrictions stemming from the latest Covid variant, particularly in Europe, continue to weigh heavily on demand.

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