Sweden’s Concordia Maritime says period charters for MR tankers are increasing in line with stronger spot numbers.

And the Stena-owned company believes the outlook for 2022 is positive as the Ukraine war continues to boost to tanker tonne-miles as Russian exports are shipped further afield.

Chief executive Erik Lewenhaupt said in a market update that the clean sector has “strengthened significantly” during April and May, with earnings beating 2021 and the first quarter of 2022.