The Aristocrats(tm): Bellwether's Shipping Stocks Revue Message Board

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Strategies & Market Trends : The Aristocrats(tm): Bellwether's Shipping Stocks Revue

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To: sense who wrote (28)	10/18/2019 2:23:12 AM
From: sense	Read Replies (1) of 43

On the Baltic Exchange, time charter equivalent earnings for VLCCs on the TD3C route between the Middle East and China were assessed at $134,991 per day as of Wednesday afternoon, down $66,502 from on Tuesday. Still, many market participants expect that seasonal oil demand, IMO 2020 and the removal of the Cosco Shipping Tanker (Dalian) fleet will underpin freight rates in the coming weeks. “It is still very good,” a broker said of the rates. "The question is just how good [it will be].” The latest TD3C reading was sharply lower than the record level of $300,391 per day on Friday last week. Still, this was much higher than the month-ago level of $32,367 per day. “The underlying fundamentals remain strong, which will support a much higher floor for the balance of the year,” Fearnleys said.

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