Container shipping is having its best year ever and dry bulk shipping its best since pre-financial crisis. Crude-tanker shipping is having its worst year since the 1980s.
Tanker executives speaking on conference calls and analysts writing in client notes continue to highlight the green shoots, yet earnings remain stubbornly and deeply in the red.
On Wednesday and Thursday, tanker owners reported huge losses for Q3 2021: Euronav (NYSE: EURN) lost $105.9 million, Teekay Tankers (NYSE: TNK) $52.1...
https://www.freightwaves.com/news/crude-tankers-still-bleeding-cash-stars-aligned-for-2022-recovery