Clean MR average earnings

Clean MR average earnings declined 7% w-o-w…

13 June 2016
Rates have softened further in the LR2 market in the Middle East due to a relatively long tonnage list. Meanwhile, the LR1 market in the region has been fairly quiet, and the rate on the Gulf-Japan route declined w-o-w to WS 92.5. Elsewhere, in the MR market in the Atlantic basin, the rate on the UKC-USAC route softened w-o-w to WS 105, reflecting a surplus of available tonnage in the basin. Meanwhile, relatively low rates on the USG-UKC route has led some owners to ballast back to the Continent from USAC. Clean MR average earnings declined 7% w-o-w to $10,735/day.