Georgiopoulos not worried by wet rates

Peter Georgiopoulos says he is not concerned by the tanker market’s summer decline, expressing confidence that the winter peak will still be strong.

The chief executive of New York-listed Gener8 Maritime told TradeWinds’ Shipowners Forum USA in New York that the rates slump that hit the sector over the summer actually wasn’t bad.

He acknowledged that some in the market have expressed worries about the slump, which has been worse than many expected and has pushed analysts to ratchet back their tanker rate forecasts.

But