The timing of any market upturn in the crude tanker sector is heavily dependent on the level of scrapping in the coming years, Drewry says.
The global shipping consultancy does not expect a substantial tanker recovery until 2020 due to a weak trade growth and a bloated orderbook.
Rajesh Verma, Drewry’s lead analyst for tanker shipping, said: “We expect the market to start a gradual recovery from 2020.
