FIS Fuel Oil Morning Report 24/05/21

At 11:39 am Singapore time (0339 GMT), the ICE Brent July contract was up 50 cents/b (0.75%) from the May 21 settle at $66.94/b, while the July NYMEX light sweet crude contract was up 60 cents/b (0.94%) at $64.18/b.   Last week saw a dramatic decline for the brent front month futures as a result …

FIS Morning Report Tanker FFA 24-05-2021

Return of Ocean Tankers VLCCs dampens tanker market, McQuilling says (Tradewinds) The return on the Ocean Tankers VLCC fleet after the arrest in 2020 is set to depress rates as the freight support from stronger demand will largely be offset by a substantial supply imbalance and the bearish market sentiment is likely to continue into …