- Challenging freight market for crude oil tanker industry with reduced OPEC-driven production and excess supply of large tankers.
- The highest level of older tonnage recycling since 1985 with VLCC rates returning to longer-term averages during Q4.
- Longhaul destinations increasingly dominant, tightening the tanker market in the latter half of 2019.
Euronav, a publicly listed operator of large tankers, reflects on the main events in the large tanker market in the last twelve months.
Challenging...http://mfame.guru/euronav-summarizing-the-tanker-market-of-2018-and-beyond/