1. In February, the average guideline one year timecharter rate for all featured vessel types fell m-o-m. The biggest declines were in the larger crude sectors, with the average one year VLCC timecharter rate decreasing by 15% m-o-m to $48,125/day, the first time the VLCC one year timecharter rate has fallen below $50,000/day since September 2015. Meanwhile, the one year timecharter rate for a Suezmax dropped 7% m-o-m to average $36,000/day. Guideline three year timecharter rates also declined across all featured vessels except for the 37,000 dwt product tankers. The three year timecharter rate for a 37,000 dwt product tanker remained steady m-o-m at $16,250/day. Conversely, the three year timecharter rate for an MR fell by 2% m-o-m to average $17,000/day in February, although this is still above the 2015 full year average.
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