Upturn for major product tankers subsides

Recent months' upturn in spot rates for the so-called LR1 and LR2 vessels will begin to subside again in a few weeks, according to broker estimates.

Recent months' upturn in the rates for the major product tanker vessels, LR, which have helped compensate for a weak market in mid-range MR vessels, will stay high for another few weeks before starting to subside again, brokers tell IHS Maritime.

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