Weekly Tanker Time Charter Estimates, February 03 2021

On the crude side, the period market has picked up this week with some short-term fixtures reported but rate levels remain low. The average for a VLCC for one-year remains at $27,500/pdpr.

The clean market has been quiet with little enquiry in the LR2 and LR1 sectors. The MRs have experienced some activity in the west, rates for one year hover around $12,250/pdpr.

Oil prices moved up to the highest levels in a year earlier this week based on improving sentiment and market fundamentals.