US owner International Seaways is confident the recent improvement in product tanker markets will continue in the coming quarters.

Investment bank Jefferies said International Seaways bosses discussed at a meeting for clients how refined oil products inventories have been drawn down significantly.

'Volatile' market: MR rates double as product tankers outstrip crude ship earnings
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Incremental demand is now being reflected in an increased need for tanker shipments, executives added.