Danish shipowner Maersk Product Tankers sees better times ahead for its fleet after suffering the worst rates on record in 2021.

The company, owned by AP Moller Holding and Mitsui & Co, logged a net loss of $46.2m last year, its accounts reveal, reversing a profit of $160.7m in 2020.

The 61 owned ships brought in revenue of $433m, down from $663.6m