Since March 2026, the demand for LR2 (Long Range 2) clean product tankers has experienced a substantial decline, consistently reaching its lowest recorded levels from April through August. This represents a 35% decrease compared to the average levels observed in 2025. In contrast, the demand for MR2 (Medium Range 2) tankers has remained stable during the same period.
This divergence in demand is largely influenced by persistent global conflicts, which have altered shipping routes and trade dynamics. The disruptions have particularly affected longer-haul routes typically served by larger vessels, leading to reduced utilization and profitability for LR2s.
For freight forwarders and operations managers, this trend indicates potential shifts in capacity and pricing within the clean tanker market. While MR2 rates may hold firm due to stable demand, LR2 rates could face downward pressure, offering more competitive options for larger parcel sizes on affected routes. Forwarders should monitor geopolitical developments closely as they directly influence vessel deployment and market stability.