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Product tankers set new ten-year record

Product tankers are currently sailing longer distances than in the past ten years, according to new numbers from Clarksons Platou. Growth in ton/mile for the first nine months of the year increased seven percent to, climbing to a ten-year high.

Photo: Hafnia Tankers

The vessels in global product tanker fleet are sailing longer distances these days, according to a new analysis from Clarksons Platou. In the first nine months of the year, growth in the so-called ton/mile - namely how far the ships need to sail - has increased seven percent to the highest level since 2005, thus the highest level in ten years.

Product tankers have in general had a booming year, in which a long list of carriers, such as Scorpio Tankers, d'Amico and Hafnia Tankers, in the third quarter delivered the best period by far since the product tanker recovery began for real in late 2014, with earnings in the quarter going through the roof.

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