Tanker Prospects 2012-2016
The past year has been characterized by much pessimism. Freight rates have remained well below breakeven levels for many ship owners and frequently have been insufficient to even cover operating expenses. Crude oil demand is at all time highs and geopolitical unrest has further complicated the availability of crude oil. It would be expected that the confluence of these two factors would result in significantly improved freight rates. However, tanker newbuildings ordered prior to the global economic downturn continue to deliver into the market, resulting in an oversupply of vessels and consistently low freight rates. Rising costs are further complicating matters for tanker operators. <br /><br />In general, industry participants are bracing themselves for more hard times ahead. Understanding current market drivers and potential wildcards is critical to staying afloat during these trying times. In this context, Poten & Partners is pleased to announce the release of its annual outlook Tanker Prospects 2012-2016.
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