Marine Log: Poten says some crude tanker earnings are in negative territory

January 17, 2021

The latest weekly Tanker Opinon from Poten & Partners notes that 2021 is “not off to a great start.” While usually, the winter months are good for tanker rates, that’s not the case this year.

“A review of the daily market rates shows low Worldscale (WS) assessments, which lead to very low TCE (time charter equivalent) earnings. Some earnings, particularly in the crude oil segment, are even dipping into negative territory. VLCCs, Suezmaxes and Aframaxes all show negative TCE’s on one or more of the benchmark routes,” says Poten.

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