Weekly Tanker Time Charter Estimates, September 02 2020

An unremarkable week in the crude market with some interest in shorter periods for VLCCs of around three to six months.

On the clean side, the focus has been on short term fixtures for the LR1 market, the average rate for an LR1 for one-year is currently estimated as $15,000/pdpr.

Oil prices surged this week following positive manufacturing news from the US and China and a weakening of the dollar.