The recent run in tanker rates in the face of widespread demand destruction is not just rare, it is generational, according to Frontline chief executive Robert Hvide MacLeod.
"What we're seeing in the oil markets, what we're seeing in the tanker markets is unprecedented," MacLeod said during Capital Link's online tanker-owner panel on Tuesday.
The New York-listed company's head said he believes the world is oversupplied by 20m barrels per day, with more oil coming on the market due to the Saudi Arabia-Russia price war and the...
