Charterers Moving Oil Products News

Oil products tankers have reportedly been getting business in recent days transporting oil products from Europe to America and the reverse direction. Usually the arbitrage works only one way, not both. Shippers say the UK/continent market has been busy with charterers moving oil products across the North Sea and also across the Atlantic. The Mediterranean has also experienced an upswing in chartering, although rates have responded more sluggishly than in the North Sea. The Caribbean up U.S. coast market has been slower of late, although interest to ship products from the U.S. to Europe has kept rates steady against a week ago.