All eyes turn to timing of tanker rate resurrection

Frontline tanker

Crude tankers are seeing “classic signs of recovery.” “Newbuilding orders are extremely low. We have the lowest orderbook is in 25 years.” On the product-tanker side of the equation, “refineries are shutting down so products are being shipping from further away, which is very interesting from a ton-mile point of view.”

Those quotes are from a shipping conference in New York in 2011, a full decade ago.

A few quotes circa-2017: “New capacity additions for global refineries are set to double, a...

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