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“Markets June 2020.”

Latest Market Update

Asia: “… The market in the past month has been rather volatile and fast-changing. Crude oil increased from around $30/bbl in around mid-May to over $40/bbl in mid-June amid confidence of demand as various countries began to ease protection measures against COVID-19 while supply was curtailed due to the OPEC+ production cuts. The earlier excitement in the MR sector has died down as the demand for floating storage came off. MR Owners are back focusing on chemicals again switching from CPP and are willing to accept competitive freight rates. Rates for J19s are still holding up but this is expected to…”

For the full report and the latest Market news in Europe, USA and Asia, as well as edible oil flows, bunker prices, and the latest fixtures and asset prices, please contact intel@spimarine.com or speak to your local broker.