Rates for Gulf oil products tankers rally on fresh sales
MR tanker rates hit $17,465 a day, a new high since 2012
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[LONDON] Clean tanker rates on major export routes were mostly lower on Monday although strong cargo bookings from the US Gulf sent earnings for shipments from that region to new record highs.
Rates for medium-range (MR) tankers for 37,000 tonne cargo on the TC2 route from Rotterdam to New York were at W70.21 in the Worldscale measure, or minus $2,680 a day when translated into average earnings.
That compared with W70.29 or -$2,620 a day on Friday and W72.17 or -$1,999 last Monday. Average earnings have fallen in recent weeks to the lowest levels since they were first compiled in 2008, exchange data showed. "Fronthaul TC2 rates out of Europe remained negative," Deutsche Bank said on Monday.
Share with us your feedback on BT's products and services
TRENDING NOW
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
