Newbuilding crude tankers have been cannibalising product trade amid weak oil demand, according to the top executive of d’Amico International Shipping (DIS).
The comments came as his company reported that it had slipped into a first-quarter loss.
Recent industry reports said crude tankers were carrying refined products for more than their maiden voyages after departing shipyards, taking employment opportunities away from product tankers due to limited crude shipments.
