Weekly Tanker Time Charter Estimates, September 30 2020
In the crude market there has been some interest in short-term fixtures After the flurry of fixtures a few weeks ago, the crude market has now slowed right down as increases in Covid cases and local lockdowns have put pressure on the market.
On the clean side, period interest has fallen as concerns surrounding the global pandemic have affected confidence in the market. The average rate for an MR for one-year is currently estimated as $14,250/pdpr.
Oil prices have come under pressure as fears mount that oil demand will fade amid increasing Covid cases in the US.