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Analyst Abstract


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...

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