Euronav is hopeful more veteran tankers will disappear down the plug-hole with owners urged to shut off the order tap and avoid further flooding the market.
Chief executive Paddy Rodgers believes presently the crude sector is 30 to 40 ships long on VLCCs and 20 to 30 ships over on the suezmax side.
“If you know anybody that is thinking of ordering a ship tell them not to,” he said on the company’s third quarter conference call today.
