Vessel oversupply issues keeping tanker rates down despite growing oil demand

Seasonal factors have started to weigh into the tanker trades, as the winter season is now officially upon us. As a result, some tanker segments have been taking advantage of those factors, like for instance the Suezmax tankers, which were particularly fortunate as a result of weather conditions in the Turkish straits, among other factors. Still, as a new report from shipbrokers Gibson notes, despite the on-going rise in earnings in the last couple of months, the weakening market fundamentals indicate huge uncertainty in the long-term outlook.
[Read More]
Source: Hellenic Shipping News