Tanker market to be plagued by oversupply in 2011, bunker prices heading upwards as well

Oversupply issues will continue to be a crucial factor for the tanker freight market during 2011 as well, said Mr. Alexandros Prokopakis, General Manager-Bunkering with Mamidoil – JetOil SA in an interview with Hellenic Shipping News Worldwide. Still, he remains optimistic about the market from the middle of 2012 onwards. Until then though, tanker owners will have to be cautious regarding their investment and chartering strategies, especially as operating costs are facing increases.
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Source: Hellenic Shipping News