ShippingWatch

Rate increases within product tanker continue – up to USD 60,000 per day

Upswing on the product tanker market has continued in April and May with increasing rates above the level of the year’s first quarter, writes tanker operator Concordia Maritime in an update.

Photo: PR-foto Concordia Maritime

Although there are marked fluctuations in spot rates with peaks above USD 60,000 per day, the upturn in general continues within product tanker, writes Swedish product tanker carrier Concordia Maritime in a market update.

The product tanker market has ”strengthened significantly” in April and May with rates at higher levels than in both Q1 this year and the full year 2021, states Concordia Maritime. Overall, 2021 was a bad year for product tanker carriers, which saw significant losses.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs