Tanker: VLCCs Losing More Ground

Clean LR2 Tonnage has remained plentiful for MEG LR2’s this week. As a result, we have seen TC1 75kt MEG/Japan drop to less the WS100 for the first time since July 2023, with index dropping 8.61 points WS95.83. The TC20 90kt MEG/UK-Continent came down $262,500 to $3.49m where its looks to have plateaued for the …

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LR2s poised to benefit from structural change to Europe’s clean tanker market

The Wider European refining landscape is under pressure. Margins have suffered due to high volumes of middle distillates arriving from the Wider Arabian Sea, plus robust diesel imports from the US and Russia. In the export market, PADD 1’s demand for European gasoline has been at seasonal record-low levels over the last few months. In …

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