Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
IHS Markit Commodities at Sea
allows users to easily understand balances in both markets and
track fleet metrics by identifying clean and/or dirty units
historically or even focus on specific age groups and operating
regions.
Most recent data by IHS Markit Commodities at Sea
suggests that utilisation rates for LR2 have improved, while those
for LR1 have actually declined. The decline for the latter is only
marginal in the clean sector, with much more losses to report in
the dirty market. Meanwhile, utilisation has surpassed 50% in late
April for clean LR2s, while around 20 ships have returned to the
market since last month having switched from the dirty market.
Additional demand has been supported by the rapid increase in
floating storage of refined products across the world and the
higher congestion in North Western Europe and the Mediterranean.
The number of laden LR2s employed in the clean market has increased
by more than 30 units since last month. Meanwhile, the clean LR1
fleet has increased as well, but with additions remaining below ten
units since late March. Rates in the clean market have been rather
strong lately, with current market conditions suggesting several
units could be employed for floating storage in the coming
weeks.
