Slowboat to China

摘要

With a general upturn in activity and rates for almost all sizes and routes in the crude markets during the 3rd week of September, great things were expected by many owners. The tonnage lists grew thinner by the day, and optimism was boosted. However, towards the end of the month the upturn seemed short lived, and rates have stabilised. Does this signal the beginning of another period of decreasing rates, or is the market just catching its breath before gaining more momentum? Well, with tonnage becoming available at roughly the same pace as they are fixed away, it's difficult to see a significant improvement in the coming month.