Weekly Tanker Time Charter Estimates, May 05 2021

Some short to medium term VLCC period activity reported this week although crude rates moved sideways overall and the average rate for a VLCC for one-year is currently estimated as $25,000/pdpr.

Another quiet week for the clean market where only the MR sector saw any activity with fixtures ranging from short-term of just a few months to up to 3-years with charterers keen to lock in low rate levels.

Oil prices have jumped to a seven-week high based on improved demand expectations.