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Weekly Tanker Time Charter Estimates, June 17 2020

Crude rates continued to soften this week with very period activity reported as oil demand concerns weigh heavily on the market. The underlying sentiment is that with the market is about to approach the traditionally quiet summer months, the remainder of 2020 will be weak given the lack of demand.

The clean market remained sluggish this week and the average rate for an LR1 for one-year has fallen to $15,500/pdpr.

 

 

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