Spot market earnings for MR product tankers in the Atlantic market plunged 8.2% on Wednesday as healthy enquiry from charterers in northern Europe was not enough to stack up against available tonnage and a slump in backhaul rates.
The Baltic Exchange’s assessment of time-charter equivalent (TCE) earnings on the triangular trade between Europe and the US East and Gulf coasts fell nearly $3,170 in a day to reach $35,600 per day.
