Tanker owners have been warned that better markets and good markets are not always the same thing, in a gloomy overview from Bimco chief shipping analyst Peter Sand.
In his latest tanker report, Sand said profitable rates may be delayed into the second half of 2022 as outbreaks of Covid-19 continue to put a brake on oil demand.
"As tanker owners hold on to their ships, hoping for better times ahead and not nearing bankruptcy as last year’s significant earnings cushion their bottom lines, the pandemic keeps extending the timeline for recovery," the analyst said.
