LR1 tankers

Asian LR2 Tanker Premium Roll Back Amid Suez Canal Crisis

  • LR rates hit new 2021 highs
  • East bound naphtha cargoes stuck
  • West bound gasoil, jet fuel delayed

Long Range 2, or LR2, clean tankers rates across Asia have flipped to a premium in Worldscale points over the LR1s for the first time in 10 weeks as supply tightens and uncertainty rises over the delays for ships to cross the Suez Canal, reports Platts.

Bullish market

An already bullish scenario has been exacerbated by the traffic disruption in the Suez Canal where more than a dozen LRs are waiting...

https://mfame.guru/asian-lr2-tanker-premium-roll-back-amid-suez-canal-crisis/

Why LR1s And MR1s Have Fallen Out of Favour?

LR1 tankers, which range in size from 60,000 to 84,999 dwt, and MR1s (34,000 to 40,999 dwt) are fading away. Among the most popular clean petroleum product tankers 15 years ago, the two tanker segments are now ageing fast with a scant orderbook and little appetite to contract new vessels, says an article published in splash247.

Report From Alphatanker

A new report from Alphatanker shows there are just five LR1s and two MR1s on order, which equates to around 1% of each fleet respectively.

“Going...

https://mfame.guru/why-lr1s-and-mr1s-have-fallen-out-of-favour/