After enjoying strong spot market earnings in recent weeks, segments of the product tanker market may soon start to see diverging fortunes for LR and MR vessels.
While LRs are well positioned to continue benefiting from low oil prices, weak gasoline demand will hurt MRs in the bread-and-butter Atlantic trade, according to analysts.
Global average LR2 earnings in the Middle East Gulf have ranged between $60,000 and $70,000 per day this month, while LR1 sums have been between $40,000 and $50,000 per day, Clarksons Platou Securities estimated.
