Shipping busts can be even more exciting than shipping booms. When spot rates crash, debt comes due, vessels are arrested, bankruptcies pile up and vultures swoop in.
But not all shipping collapses are so action-packed. Sometimes things never devolve into total crisis mode. Sometimes the market gets stuck in limbo — like tankers are now.
Tanker rates have wallowed at or near historic lows throughout 2021, weighed by oil inventory destocking, COVID-struck demand and a stubborn aversion to...
https://www.freightwaves.com/news/why-this-tanker-shipping-depression-is-different-from-past-slumps