Atlantic MR tankers lose all their Hormuz rate gains and more
- US Gulf-Europe MR index is at $10,695 per day, down 60% vs February, pre-crisis; Europe-US east coast MR rates at just $8,707 per day, down 8% vs February and down 53% y/y
- MRs in the Pacific are faring better; Pacific MR and handysize basket is at $33,086 per day, 40% higher than the Atlantic basket
- LR2s have benefitted from clean-to-dirty switching; the LR2 Med-Asia index is at $46,785 per day, still up 32% vs February and 5.5 times rates one year ago
Tanker markets have corrected from Hormuz crisis highs. The segment suffering the most extreme correction: medium-range product tankers in the Atlantic basin
