Product tankers may be at the bottom of the cycle right now, but packed a pleasant surprise for Norden in the second quarter, according to the Danish owner-operator's chief executive.
Jan Rindbo told TradeWinds that even though freight rates have disappointed, product tanker asset prices have either stabilised or even increased slightly.
“Earlier this year and last year, we’ve been moving more exposure from tankers into dry cargo, which we are benefiting from but, having said that, what we are seeing is actually asset values in tankers have started to move up,” he said.
