May 31, 2024 16:25 GMT
USGC-Europe Clean Tanker Rates Soar: Bloomberg
FREIGHT
Daily earnings for medium range tankers on the USGC-Continent route climbed by 14% to $38,257 May 31, a year-to-date high, according to Bloomberg citing Baltic Exchange data.
- Daily earnings on the USGC-Brazil route rose 22% to $44,934, also a year-to-date high.
- “Medium-range product carrier rates continue to make big gains driven by strong US export activity,” Jefferies managing director Omar Nokta said in a note, cited by Bloomberg.
- Nokta noted that cargo volumes from the USGC have held up despite weakening cracks.
82 words