Weekly Tanker Time Charter Estimates, June 09 2021
The crude market remained flat once again this week with market players reluctant to commit to period deals in the current climate. However, in the VLCC sector, some period fixtures were reported both very short term and for longer periods of a few years.
Once again, very little to report in the period market for clean, aside from the MR sector that saw a few deals reported including some three-year fixtures with options.
Oil prices continued to move higher, based on strong market sentiment, the latest report from the American Petroleum Institute (API) reported a draw in crude inventories, adding to bullish sentiment.