Using VesselsValue Trade, we will assess the current status of the Tanker market, using historical and current AIS derived supply and demand data.
Dirty Tankers: Demand and Rates continue to fall
The impacts of COVID for the dirty Tanker market are still very present as rates continue to deteriorate into May. After making a small recovery towards the end of March, VLCC rates dropped again at the start of May to below OPEX, resulting in over a 100% year on year decline. Alongside weak earnings,...