Term Oil in the Market

This summer, deteriorating conditions in the spot tanker market have encouraged some vessel owners to seek protection in term-charters. Although assessments for one-year timecharters softened during August, the momentum behind longer-term charters strengthened over the summer. Through this reversal of the traditional relationship between short and long-term charter deals, the timecharter market has displayed a mixture of short-term concern about future conditions and long-term optimism among shipowners. Download here