Croatian MR owner Tankerska Next Generation (TNG) is expecting better rates this year as the effects of IMO 2020 legislation begin to be felt.
CEO John Karavanic said: "The shift to low-sulphur fuel oil is expected to result in a significant increase in demand for compliant fuels together with the dislocation of global refining capacity.
"We believe increased trade flows and volumes will result in shifting trading patterns and have positive implications for ton-mile demand."
