A seasonal upswing in tanker rates in the fourth quarter of 2018 fired the starter pistol for an up-cycle, according to Fearnresearch.
High scrapping ahead of IMO 2020 rules, a manageable VLCC orderbook and a likely rise in Opec production this summer are all fuelling the optimism.
Dag Kilen, senior shipping analyst at Fearnresearch, told a seminar in London today: “Our expectation is that Q4 2018 was the beginning of an upturn that will last for two years in tankers.”
