LR2 and LR1 Rates Drop in the Middle East and Mediterranean: Tonnage remains ample in the Middle East Gulf (MEG) for LR2 tankers, resulting in TC1 75kt MEG/Japan rates falling below WS100 and TC20 90kt MEG/UK-Continent stabilizing at $3.49m. LR1 routes mirrored this trend, with TC5 55kt MEG/Japan and TC8 65kt MEG/UK-Continent also experiencing reductions, reports balticexchange.
LR2Tonnage has remained plentiful for MEG LR2’s this week. As a result, we have seen TC1 75kt MEG/Japan drop to less...
https://mfame.guru/lr2-and-lr1-rates-drop-in-the-middle-east-and-mediterranean/