Weekly Tanker Time Charter Estimates September 27 2017
According to the CEO of Royal Dutch Shell, it is not unreasonable to expect oil prices at $60/bbl by 2020.
Despite the fact this is not a big rise from current levels, gains are expected for both long and short term, even if analysts find it very difficult to forecast oil prices in short term.
In the shipping markets, spot MR rates in BSea and Med returned to the levels seen before the spike with 38k CONT/USAC to achieve slightly more than WS 130. Aframax and Suezmax market a bit more optimistic on period, with 1 yr t/c rates hovering around $14,850/pdpr and $18,500/pdpr respectively.