Tanker boss Erik Lewenhaupt has expressed disappointment with autumn MR rates, but says the outlook remains solid.

The chief executive of Sweden’s Concordia Maritime said the global average for a non-scrubber fitted clean carrier built before 2015 was $16,704 per day in October.

Lewenhaupt added that the figure is considerably lower than the year-to-date average of $21,767 per day and is in line with June and July’s “holiday” numbers.