Tanker earnings are steady

By Finance

Latest analysis showed that the tanker markets are stable. Charter rates for crude and product tankers continue to be not inspiring. Product markets are at the moment stable, more stable on West of Suez than East of Suez. This will not change probably in near future.
BIMCO predicts that average earnings for all the 3 crude oil tanker areas will stay unchanged at USD 10,000-20,000 per day. Handysize and MR clean rates are probably to enjoy a bit of rise driven by a better performance in the manufacturing sector, at first place West of Suez. Freight rates maybe in near future to be around USD 4,000-12,000 per day. BIMCO predicts earnings on benchmark routes for LR1 and LR2 from AG going East to continue slowly sliding rate levels along the seasonal pattern in the interval of USD 1,000-11,000 per day.
To give arguments about these expectations, BIMCO announced that "led by falling demand for oil products in the US, MR product tanker earnings in the Atlantic basin have been particularly poor. In first half of 2012, US gasoline imports dropped by 22% as compared to the same period last year.