Weekly Tanker Time Charter Estimates, January 08 2020
A positive start to the year for crude- rates have remained stable, supported by the spot market. The average rate for a VLCC for one year is estimated as $48,500/pdpr.
On the clean front, sentiment is overall positive although few fixtures have been reported with various holidays this week.
Oil prices spiked following the news that Iran had launched an attack on a US army base with WTI rising to the highest levels since April but have since stabilised as it became clear that no energy infrastructure had been targeted.