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Weekly Tanker Time Charter Estimates, May 13 2020

Whilst tanker rates remain strong the pressure has come off the crude market and rates have moved lower, the average rate for a VLCC for one year has dropped to $55,000/pdpr. We continue to see a healthy number of short term period fixtures ranging from three to nine months.

Clean timecharter rates are still at high levels but sentiment in this sector has cooled and as with crude, most period fixtures reported focus on the short-term. The average rate for an MR for one-year is currently estimated as $18,000/pdpr.

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