Clean tanker freight rates hit all-time highs on Mideast Gulf-Japan routes as LR2s switch to dirty trade

Clean tanker freight rates hit all-time highs, with Mideast Gulf-Japan LR2s at WS995 ($225.37/t), LR1s at WS980 ($221.97/t) and MRs at WS970 ($217.38/t). LR2s switching to dirty trade reached 113 in Jan-Aug 2026 versus 67 in all of 2025, as crude earnings cannibalize clean tanker supply.

Detected & updated continuously · Source: Nebula