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NWE MR Tanker Demand Under Pressure During Winter: Kpler

OIL PRODUCTS

Medium Range Tanker rates from Northwest Europe face additional pressure this winter, amid high US gasoline stocks and softening demand from WAF, according to Kpler.

  • Despite lower winter exports, MR tonne-miles from Northwest Europe are currently down only around 2% compared to the summer.
  • Tonne-miles have been supported by additional exports to Latam. These voyages are longer compared with tanker journeys to the USGC, and thus have upheld tonne-miles in winter,.
  • Tonne-miles to Latam from Northwest Europe has been the largest share of demand in recent years, at around 35%, Kpler said.
  • A US surplus in gasoline may further cut loadings from Northwest Europe, Kpler added.
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