MR product tanker rates have continued to demonstrate huge volatility as an exodus of vessels from Europe in recent weeks caused a spike in rates.

Clarksons Securities pegged eco earnings for these vessels at $38,800 per day worldwide, up 11% from Tuesday to Wednesday.

Owners had seen better earnings outside Europe, moving ships away, according to brokers.

Tonnage in northern Europe was suddenly in short supply, with rates surging 40% in a day on Wednesday between Rotterdam and New York.