Straits Tankers: Daily rates up to USD 40,000

Demand for the big LR1 product tanker vessels is rising due to fundamental changes in the sector. "LR1 is in an extremely interesting place," Straits Tankers CEO Søren Steenberg tells ShippingWatch.

Developments in the market for oil products brings positive developments to the Singapore office of the Straits Tankers pool, which is owned by Hafnia Management and Japanese MOL and operates 31 major LR1 product tanker vessels.

2014 saw profound developments in trades for product tanker vessels, and this rubs off on the LR1s, the pool's CEO Søren Steenberg tells ShippingWatch:

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