ShippingWatch

Soaring product tanker rates on the Atlantic

Earnings in the MR product tanker market on the Atlantic have doubled within the past two weeks, says Platou. But the Atlantic trade could be challenged by growing transports to developing economies.

Photo: DHT

MR (Medium Range) product tankers on the Atlantic are currently sailing rates of up to USD 31,800 per day, which means that earnings for the ships have doubled in the past two weeks.

The strong rates are primarily driven by favorable margins at refineries, due to factors including a strike, as well as an unusually cold winter period in the US, according to analyst agency Platou.

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