Spot earnings for product tankers are bottoming out in the Atlantic basin with the revival of naphtha and gasoline arbitrage movements, tanker experts suggested.
Clarksons Platou Securities estimated MR earnings on the TC2 northwest Europe-US Atlantic coast route at $9,000 per day on Monday, up from $6,400 per day last Friday.
The brief dip in TC2 earnings last week has pried open the gasoline arbitrage window at a time when many LR1s are used to transport cargoes to West Africa, some experts said.
