LRs to rise at MR tankers’ expense as high prices threaten market recovery, BRS says

MR product tankers are pegged to suffer as LRs taking advantage as fallout from Russia’s invasion of Ukraine continues, Barry Rogliano Salles (BRS) said in a note on Monday.

The French shipbroker said the flight from Russian oil cargoes is set to hit product tanker trades in the near term, leaving a 1m barrel per day gap in the market and potentially imperilling the expected tanker recovery.