Spot product tanker earnings in the Middle East Gulf (MEG) are enjoying a strong recovery lately, supported by the return of charterers and fewer ballasting vessels, according to market sources.
Fearnleys Securities estimates LR2 earnings on the MEG-Japan route at $11,280 per day on Friday, up 71.1% over the past week.
The strength has spilled over to the LR1 segment, where spot earnings, based on the Baltic Exchange’s assessment, rose by 23.7%
