Tanker market looked in better shape in October says OPEC monthly survey

The dismal state of the tanker market during September was such that October mediocre performance was enough to stage a recovery for the market. According to the latest monthly report from OPEC covering October, total spot fixtures recovered 7.5% during October after the sharp decline in September with almost all routes showing positive performance. OPEC crude oil chartering jumped 7.4% m-o-m during October to 12.69 mb. Middle East eastbound spot fixtures grew by 25.7%, mostly due to orders coming from Chinese refiners, while Middle East westbound chartering experienced 11.7% growth.
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Source: Hellenic Shipping News