The political stand-off in the Middle East is having positive side effects for the tanker market so far, major shipowner Nikolas Tsakos said.
“It will not sound very politically correct but animosities are good for tanker rates and the market,” the Tsakos Energy Navigation (TEN) chief executive told the TradeWinds Shipowners Forum in Athens.
“Every animosity creates more and more demand for more energy inventories and that’s what we do.”
