Lloyd’s List: Extraordinary LR2 Spot Rates Start to Level Off

“Palm oil exports have increased from 16.6m tonnes in 2000 to an estimated 44.6m tonnes in 2014, according to Poten & Partners. MR tankers are primarily deployed on the long-haul palm oil trades from southeast Asia to Europe, Poten said in a recent report. Given that palm oils are primarily used in the food industry, they can only be transported in dedicated chemical tankers or on newbuilding product tankers delivered straight from the shipyard. “‘The palm oil trade looks as though it will remain an attractive destination for short-term time charters for newbuilding MRs, providing a win-win for both the shipowner and charterer,” argued Poten.’”