The product tanker size ladder
| Class | Deadweight range | Typical role |
|---|---|---|
| MR (Medium Range) | ~25,000-55,000 dwt | The core of global refined product distribution |
| LR1 (Long Range 1) | ~55,000-80,000 dwt | Longer-haul refined product and some crude |
| LR2 (Long Range 2) | ~80,000-120,000 dwt | Effectively an Aframax hull trading clean or dirty |
MR tankers are the backbone of refined product movement - gasoline, diesel, jet fuel - between refining centres and demand markets, and they trade in some of the most liquid, highest-frequency charter markets in shipping.
Clean vs dirty trading
A tanker is 'clean' when it is trading refined, light-coloured products, and 'dirty' when trading crude or heavy fuel oil. The same hull, particularly at LR1 and LR2 size, can switch between clean and dirty trading, but a tank-cleaning operation is required between cargo types, which costs time and is a real commercial consideration in fixing.
- A vessel's trading history matters commercially - a charterer wants confidence the tanks are clean enough for the intended cargo.
- Switching from dirty to clean trading typically requires a documented cleaning and inspection process.
- LR2s compete directly with Aframaxes for crude cargoes when clean product demand is weak, and vice versa.
What governs an MR/LR fixture
Product tanker freight is quoted on regional Worldscale routes - US Gulf to Europe, Middle East to Japan, and many others - and the market moves on refinery output, seasonal demand for heating oil or gasoline, and arbitrage between regional price differentials that pull product from one market to another.
Charter party forms, laytime and vetting requirements broadly mirror crude tanker practice, though clean product charterers often specify tighter tank cleanliness and cargo compatibility clauses given the sensitivity of refined product to contamination.
Frequently asked questions
What does MR stand for in shipping?
Medium Range - a product tanker class of roughly 25,000 to 55,000 deadweight tonnes, and the most numerous and actively traded segment of the product tanker fleet.
Can an LR2 tanker carry crude oil?
Yes. An LR2 shares its hull size with an Aframax and can switch between clean product and dirty crude trading, subject to a tank-cleaning process between cargo types.
Why does tank cleanliness matter so much for product tankers?
Refined products such as jet fuel and gasoline are contamination-sensitive. A tanker with residue from a previous dirty cargo can taint a clean parcel, so charterers scrutinise a vessel's recent cargo history before fixing.