Crude tanker rates remain in hot water as positive developments on scrapping continue to be countered by owners leaving the newbuilding tap running, Euronav says.
The bellwether tanker owner says the market remains in a stage of uncertainty with the difficult conditions contributing to a third quarter loss.
Its red ink was, however, not as deep as analysts expected thanks to a better than forecast showing from both its VLCC and suezmax fleets.
