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Shipping market: Crude freight rates may look up
Feb 16: 8Healthy activity in crude carrier market in the Middle East last week together with trading in the East resuming fully following the end of the Chinese holidays, have supported sentiment in the crude carriers market that has been under pressure for almost a month.
8The market expectations in that oil prices may tighten following reports that last month OPEC demonstrated record compliance of 90% with the output cut deal
8Rates for VLs in the Middle East ended the week higher on the back of healthy enquiry for prompt as well as for more forward days as well, while the West Africa also displayed improved sentiment throughout the week.
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