Skip to content

Oil Tankers See Strongest Market in Decades on Thirst for Fuels

  • Fuel tanker earnings above $40,000 a day for last 14 weeks
  • Demand for tankers increases amid stronger appetite for fuels

Tankers hauling everything from diesel to gasoline are experiencing a period of strength not seen in at least 25 years, buoyed by robust demand for fuels and stretched sailing distances after Russia’s invasion of Ukraine.

So-called product tankers have earned more than $40,000 a day for the past 14 weeks, a feat not achieved in data that began at the start of 1997, according to figures from Clarkson Research Services Ltd., a unit of the world’s largest shipbroker.