Gibson Shipbrokers believes something has to give in the product tanker market as soaring rates are pricing some cargoes out of the market.
Rates on LR2 routes topped $100,000 per day last week as the Red Sea disruption added to tonne-miles, brokers reported.
The London shop said the biggest challenge now facing traders is that rates have risen so much that in some cases it no longer makes sense to move products.
