A week-long strike shuttering French refineries and creating widespread fuel shortages is showing a mixed impact on tanker rates.
The Baltic Exchange’s Atlantic Basket assessment for time-charter equivalent (TCE) earnings on medium-range (MR) tankers fell to a 20-month low of $10,615 per day at the start of June.
The rate had been at $13,447 per day as of 24 May. That was when workers at some of France’s largest refineries began joining nationwide strikes to protest labour law changes being instituted by President Francois Hollande.
The
