1. Average guideline timecharter rates generally improved marginally in October, although remain low relative to the past two years. The average guideline one year timecharter rate for a VLCC edged upwards by 1% m-o-m to stand at $26,688/day, whilst the guideline rate for an Aframax rose by 2% m-o-m to reach $15,000/day. Meanwhile, having remained steady for six months, the guideline one year timecharter rate for a Suezmax softened by 1% m-o-m to average $17,813/day in October, the lowest level since 2013. In the products tanker sector, the guideline one year timecharter rate for a 37k dwt products tanker rose by 16% m-o-m to average $12,438/day, the highest level in over a year, bringing the average guideline rate in the year to date up to $11,226/day. Meanwhile, the guideline one year timecharter rates for an LR1 and MR products tanker both rose by 3% m-o-m in October to average $13,438/day and $13,531/day respectively.
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