A busier Asian market has lifted product tanker rates, but concerns remain in the quiet Western sector in a "tale of two hemispheres", brokers and analysts reported.
During an investor call, executives at US owner Scorpio Tankers highlighted that activity in the East has been a "positive surprise", Clarksons Platou Securities said.
Charterers have become more active across the LR2, LR1 and MR tanker segments, and mostly in unison, which suggests a more solid fundamental backdrop, analysts for the Norwegian investment bank said.
