Weekly Tanker Time Charter Estimates, December 18 2019
In the crude market there has been very little reported in the way of time charter fixtures but both the spot and period markets remain strong. The average rate for a VLCC for one-year is currently estimated as $47,500/pdpr.
Although sentiment for the clean market is positive going forward, the period market has been quiet.
Oil prices hovered around near three-month highs earlier this week, boosted by progress in the US- China trade negotiations and OPEC supply cuts.