Robust Aframax rates lure LR2 tankers into dirty market

Strong Aframax freight rates for hauling crude and fuel oil are luring clean Long Range II, or LR2, product ships into the dirty tanker market to capitalize on higher earnings in that segment, several market participants said in the week ended Nov. 25. The shift has tightened LR2 tonnage supply, resulting in freight rates reaching multiyear highs. “More than 10…