In a reversal of recent trends, some ageing LR1 tankers have made their way into crude trades.
Steem1960 Shipbrokers has identified around 30 such ships that have trickled into crude trades in recent years, an “unusual” move for the asset class that in effect wipes out the orderbook.
“While this type of swing trade is common for the coated aframaxes, LR1s have to a larger degree stayed in their lane historically,” the Norwegian broker said.
