Tankship Surplus Hits Clean Tanker Rates

Business Times
Wednesday, May 22, 2013

Clean tanker rates for refined petroleum products on top export routes soften with build up of ships pressurizing the transatlantic market.

Rates for medium-range (MR) tankers for 37,000-tonne cargoes on the TC2 route from Rotterdam to New York were at W140.42, or US$13,332 a day when translated into average earnings,  which compared with W141.00 or US$13,647 a day in the past week, reports the 'Business Times'.

Earlier this month, earnings reached their highest since mid February, helped by firmer bookings for petrol cargoes to the US and product shipments to Argentina.

Source: Business Times
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