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Saturday, July 20, 2019

Diesel Products News

Long-Range Clean Tanker Rates Hit 8-Month High

Long-range clean tanker rates stayed firm on Monday extending a recent rally with firmer cargo demand bolstering sentiment further. Long Range 1 tankers, carrying 55,000 tonne loads from the Middle East Gulf (MEG) to Japan, reached W117.50 in the Worldscale measure, or $11,453 a day when translated into average earnings, the highest since mid September last year. That compared with W116.14 or $11,156 a day on Friday and W107.45 or $8,112 a day last Monday. "With plenty of cargoes in the market and tonnage looking fairly thin far out…

Trans Atlantic Tanker Rates Higher

Clean tanker rates on the transatlantic route edged higher on Monday helped by light bookings although the market continued to struggle with a glut of vessels. Rates for medium-range (MR) tankers for 37,000 tonne cargoes on the TC2 route from Rotterdam to New York were at W124.38 in the Worldscale measure, or $8,306 a day when translated into average earnings. That compared with W122.50 or $8,048 a day on Friday and W129.17 or $9,368 last Monday. "Rates on the Europe - U.S. East…

MAN Diesel Pre-empts Recycling Regs

For reasons of cost, the final scrapping of ships and the recycling of materials has gravitated to developing countries and attracts considerable criticism regarding the working conditions of the personnel involved and the disposal of possible harmful residues in the ships. In particular, given lifespans of merchant ships in the region of 30 years, the scrapped hulls can contain substances which have long been identified as hazardous and outlawed in many parts of the works. Examples are asbestos and lead which were widely used as insulation for pipes and in paints respectively…