Opec cuts to hurt VLCC tonnage demand
The recent cuts by the Organisation of the Petroleum Exporting Countries are likely to dent the demand for very large crude carriers as the segment is highly leveraged to Saudi production along with a net fleet which is expected to grow significantly in 2019. However, US production and exports can provide some support in the long run
The potential downside from the Opec production cuts may also be felt in other segments as well, Gibson Shipbrokers warns
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