Surging supply of Long Range II, or LR2, tankers in Asia has widened their discount against the LR1 counterparts, but weak demand because of a smaller Chinese export quota, refinery maintenances and slowing consumption, has led to fewer takers for the ships. The benchmark Persian Gulf-Japan LR1 and LR2 Worldscale rates were on a par …
The post SHIPPING: LR2s find fewer takers even as freight discount widens on supply surge first appeared on Hellenic Shipping News Worldwide.