Increased Atlantic clean tanker demand is anticipated after the Brazilian government changes its ethanol/gasoline mix.
This will come as a welcome boost to the clean market.
SSY reports that trans-Atlantic clean rates have fallen to a new low for 2011.
The fall in the market has pushed timecharter equivalent earnings down close to $2,000 per day.
According to the London broker, Dow Jones indicated that Petrobras may now need to import 6.29m