Freight rates on the tanker market are increasing

Freight rates on the tanker market are increasing


Freight rates for product tankers continued to grow actively in January.

The average spot rate for LR (Large Range) food tankers in January increased by 46.2% compared to the previous month. This was reported by analysts of the shipping company MOL, based on data from Clarksons Research.

This indicator amounted to slightly more than 50.58 thousand dollars per day. Growth by January of the previous year — almost 1.5 times.

The average spot rate for MR (Medium Range) tankers in January increased by 10.6% compared to the previous month — up to $32.4 thousand per day. In relation to January last year, the rate increased by 22%.

Read also: how tanker companies invent new loopholes for transporting Russian oil.

The Philippines recently returned its first sailor from a tanker seized by Iran. 17 Filipinos are still on board the hijacked vessel.