Experts Call Divergence Between Crude and Product Tanker Markets

Euronav and Scorpio calls highlight divergence between crude and product tanker markets, reports Freight Waves.

Speaking on Thursday’s call with analysts, De Stoop was explaining why Euronav is pulling forward required drydockings from H1 2021 and will drydock nine of its tankers — 15% of its fleet — this month and December.

“When you’re in the drydock, you’re not earning money,” he said. “It’s like those guys retrofitting scrubbers in a market that was absolutely fantastic...

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