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VLCC Tanker Rates on the Rise

Clean LR2 The TC1 75kt MEG/Japan index moved consistently upward this week to WS432 (+70). A voyage west climbed in value this week with the TC20 90kt MEG/UK-Continent index going from $7.94 million to $8.66 million. In Europe the TC15 80kt Mediterranean/East index held level around its current $4.2 million all week, the corresponding TCE …

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How much of China’s crude demand will return?

With crude benchmarks retreating from above $100/b, market attention is shifting from supply disruptions to the post-crisis rebalancing of global oil markets, despite continued uncertainty over physical trade flows. Setting aside potential logistical disruptions, the global crude balance has already begun to shift. Gulf exports are recovering from recent lows, alternative suppliers continue to load …

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