Bullish investors have rushed to acquire secondhand tankers in recent weeks — betting on a future rate recovery despite current weak spot earnings.
Eighty four tankers totalling about 10.3m dwt changed hands in April, according to Clarksons Research, the busiest month for sale-and-purchase transactions on record.
With an average age of 13 years, those ships included at least nine VLCCs, four suezmaxes and 14 aframaxes.
