Freight rates of LR2 product tankers are rising recently on tightening supply, according to market players, with a massive amount of naphtha flows from Europe to East Asia.
Clarksons Platou Securities estimated spot LR2 earnings at $16,300 per day on Thursday, up 19% from Wednesday’s level.
“There was a surge in freight levels from the Mediterranean to the Far East,” the Norwegian investment bank said in a note.
