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Weakness in clean LR tanker market set to continue

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Watch: Weakness in clean LR tanker market set to continue

Long Range tanker freight rates in the Atlantic are at historical lows, putting heavy pressure on shipowners' earnings. Is this just a temporary issue or is there even more trouble ahead? In this video, managing editor for EMEA shipping Alex Younevitch and associate editor Shubhlakshmi Shukla discuss the main forces behind the sorry state of the LR tanker market, including the closed naphtha arbitrage to the Far East, declining gasoline imports to West Africa and the swelling fleet orderbook.