The crude market has been quiet overall with the summer season underway, some activity has been reported in the Aframax sector mainly focused on short-term.
The clean market has been quiet with few period fixtures reported this week.For more TC rates see:
https://t.co/T1yHPtLZfd
The #capesize market has entered into a period of self-correction following the bullish sentiment of the past few weeks, rates have moved slightly lower. The estimated rate for a cape for 6mths is currently $20,500/pdpr.
For more wet&dry TC estimates see: https://t.co/T1yHPtLZfd
With the summer lull already in full swing there has been very little enquiry for the crude period market this week. Clean TC requirement remained thin, just a few short term MR fixtures reported, around 8-12 months. For more Wet/Dry TC rates see:
https://t.co/T1yHPtLZfd
Dry bulk #timecharter rates remain firm this week with #capesize rates moving upwards to an average of $20,000/pdpr for 6months. Fixtures reported this week focus on short to medium term. https://t.co/T1yHPtLZfd
"With output levels lower, this has reduced the need for storage on land and combined with a reduction in price contangos, there is less of an incentive to store crude at sea." Alibra quoted in @Reuters today. https://t.co/kAEMKddSXJ
#Capesize market has surged ahead this week both in the spot and period markets boosted by iron ore demand from China. See Alibra’s latest #Timecharter estimates here: https://t.co/T1yHPtLZfd
The latest IEA report raises forecasts for 2020 oil demand by nearly 500 kb/d to 91.7 mb/d, due to stronger than expected deliveries during the Covid-19 lockdown https://t.co/dTBeTLPih7
The #capesize period market has experienced upwards momentum this week, the average rate for a capesize for 1yr is estimated as $12,000/pdpr. See more rates here:
https://t.co/T1yHPtLZfd
The start of something sweet, or will it all turn sour as per... Cape prospects with thoughts from JM Radziwill, @alibrashipping, @BIMCO_PS, Braemar ACM, Lorentzen & Stemoco and Fearnleys https://t.co/qXnolIdg2Z
The latest EIA report forecasts that consumption of petroleum and liquid fuels globally will average 92.5m bpd in 2020, down 8.3m bpd from 2019, before increasing by 7.2m bpd in 2021.