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Weekly Tanker Time Charter Estimates, October 23 2019

Last week’s momentum in the crude period market has dropped off slightly. Nevertheless, rates remain firm.

An upbeat week for clean with plenty of activity reported for MRs and LR2s, the average rate for an MR for one year is currently estimated as $15,650/pdpr.

Oil prices received a boost this week with news that OPEC+ may cut production further.

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