Clarksons Platou Securities has taken an axe to its previous VLCC earnings predictions — but says better times really will arrive.
With a recovery in rates seemingly on permanent hold, the Norwegian investment bank said the outlook is becoming "increasingly" promising after owners suffered a very difficult 2021.
Analysts Frode Morkedal and Omar Nokta said steep Opec+ production cuts carried out in 2020 will fully unwind by this autumn, tightening vessel supply and boosting rates.
