Tanker owners will face loss-making rates in 2017 while the industry at large remains several years away from a full recovery, Bimco warns.
In a 2017 outlook published today, chief analyst Peter Sand said oil consumption will need to rise and bloated stocks be drawn down before the tanker market can be rebalanced.
“We foresee demolition of tanker capacity to reach a five-year high, but not enough to prevent the onset of a loss-making freight market,” Sand wrote in the report.
The
