No end in sight of tanker earnings pressure, says BIMCO
The downturn in the tanker market, mainly fuelled by lower demand from the aviation industry as a result of coronavirus, is likely to continue for several months more, according to shipping association BIMCO, which calculated that all segments are at loss-making levels
For the full-year, tanker owners will probably end up in the black, thanks to record-high earnings seen during a frenzy in April. Although most of the world is experiencing lower oil demand due to the coronavirus backdrop, a full-volume recovery may only come in 2022, BIMCO says in new report
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