Pareto Securities has dialed down its products tanker rate forecasts for this year and next despite the market taking baby steps towards a recovery in the early weeks of 2018.
Analyst Eirik Haavaldsen says with the exception of 2015 product tankers has been the “boom that never arrived” during the past decade.
“Heading into 2018 we see several signs of relief though, most notably the all-time-low orderbook, which coupled with an older fleet and high scrap prices will result in a sharp slow-down in fleet growth,” he said in a report today.
