Reuters: Arb Trades Boost Clean Transatlantic Tanker Rates

“Rates for medium-range (MR) tankers for 37,000 tonne cargoes from Rotterdam to New York were at W117.29, or $4,276 a day when translated into average earnings, compared with W116.25 or $4,022 a day on Friday and W111.11 or $3,020 a day last Monday. ‘MR rates finally saw gains on the benchmark TC2 trans-Atlantic route as the gasoline arbitrage opened once again,’ Deutsche Bank said on Monday. . . . Brokerage Poten & Partners said there was scope for gains on the U.S. to Europe route, which has languished at depressed levels recently. ‘A series of refinery outages in the Atlantic Basin and anticipated seasonal maintenance have sharply tightened regional gasoil balances and have sent European diesel prices soaring,’ Poten said.”