Average MR product tanker rates plunged 17% in a single day on Tuesday as rates for shipments out of the US Gulf Coast took the biggest bite out of the
Average MR product tanker rates plunged 17% in a single day on Tuesday as rates for shipments out of the US Gulf Coast took the biggest bite out of the triangular trade with Europe.
The Baltic Exchange’s Atlantic basket for MR tankers lost $4,084 to reach $19,900 per day.
Tuesday’s figure marks a 27.4% plunge since rates peaked at just over $27,400 per day on Wednesday and then began to spiral downward.
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