Weekly Tanker Time Charter Estimates, March 03 2021
The crude market remained subdued this week with little to report on the period front, despite China returning to work. VLCC rates for one-year remained at $25,000/pdpr.
On the clean side there was a slight improvement in demand, but this was not enough to translate to an improvement in rates. The few fixtures reported this week focussed on six months to one-year.
Oil priced dipped at the start of the week over uncertainty surrounding the impending OPEC+ meeting and a stronger dollar.