Weekly Tanker Time Charter Estimates, November 17 2021

In the crude market a rebound is slowly emerging and we are seeing more and more interest in long term deals of around three years. The average rate for three years is up $1000 to an average of $36,000/pdpr.

On the clean side, there has been interest in all sectors although the short-term rates have strengthened, for most periods rate-levels have remained flat.

Although oil prices have fallen from the highs of last week, prices remain above $80/barrel as demand for oil strengthens as international travel increases with more countries now re-opening their borders.