Tanker trends: Certainty of uncertainty
Tanker freight rates are again back at levels that barely cover operating expenses. After a horrific 2018, the next three months offer geopolitical unrest, political uncertainty, and lots more volatility. And, no, Brexit, does not get a mention
Tanker demolition is not expected to accelerate until the end of the year, when owners will gain clarity about how IMO 2020 will affect market economics. Coinciding with the fourth-quarter rally this could lift rates, particularly in the larger vessel sizes