Darkest before dawn, they say. For tanker owners it’s been black hole bleakness this February with VLCC rates in particular notching up new record low earnings repeatedly.
However, is there a case to suggest that an absolute low has now been reached? Shipping analysts at Jefferies certainly think so (see chart).
Likewise, Evercore is hopeful, pointing out in a recent report that the International Energy Agency estimates that OECD crude oil inventories are at seven-year lows, bu...
To continue reading, please login below or subscribe here.