Scorpio Tankers president Robert Bugbee has spotted "weird things" happening in the product tanker market ahead of IMO 2020, but has also spied a unique opportunity for owners.
Bugbee said last week that rates for LR2 ships cracked the $100,000-per-day barrier in a bull run for tankers spurred by geopolitical turmoil.
Speaking on a conference call with Deutsche Bank clients moderated by analyst Amit Mehrotra, he said: "You’ve got so many people with such a lot of good information that are looking into these arbitrage opportunities and the chaos.
