The Asia-Pacific Long Range 1, or LR1, tanker rates have hit their highest in over six months as many ships have been taken up for loading oil products out of China, delaying their return to the Persian Gulf, market participants said Dec. 10. However, the increase in bunker prices implies that a large part of …

The post Asia-Pacific LR1 freight hits over 6-month high on strong China exports: sources first appeared on Hellenic Shipping News Worldwide.