Weekly Tanker Time Charter Estimates, May 19 2021
A quiet week for crude, there has been very little to report in terms of fixtures with the market subdued, rates have remained flat.
Limited fresh business to report on the clean side and as the market remained under pressure. LR1 rates for one-year moved slightly lower to an average of $14,750/pdpr.
Oil prices dipped mid-week following the latest report from the IEA that has made headlines by suggesting that there should be no oil and gas investments after 2021.