As crude tanker owners report huge annual results in strong freight markets, shipbroker BRS Group has issued a warning that could give the sector pause for thought.
The French shop has identified a tonnage imbalance that could mean VLCC rates experience “a downward correction”.
The big tankers have been “cannibalising” US Gulf crude cargoes that would otherwise have been carried on suezmaxes and aframaxes, BRS said.
