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Broker: Product tanker a major disappointment this year

In spite of several optimistic years for MR product tankers, 2014 looks set to become a major disappointment. Spot rates are down 42 percent in the first eight months of the year, according to Lloyd's List.

MR product tanker owners will likely have to face a disappointing year.

At least based on the scenario from the first eight months of the year, where the average spot rate profit came to USD 8,150 per day, corresponding to a 42 percent decrease compared to last year, according to a study performed by analyst agency Banchero Costa, reports Lloyd's List.

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