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Intertanko summit ‘cautiously optimistic’ on the markets

Bill Box from Intertanko reports from yesterday’s annual gathering in Singapore.

‘Cautiously optimistic’ and ‘slightly less of a smile but still a smile’ were the soundbites summary from the tanker summit at Intertanko’s annual tanker event in Singapore this week.

The previous night more than 160 of the association’s members and guests were welcomed to their annual dinner by their chairman Nikolas Tsakos.

The tanker and gas forums at the end of the week updated members on Intertanko’s oil and gas tanker activities. Issues at the top of the bill for oil tankers were ballast water management (viable organisms, system design limitations, suspended matter), fuel quality and how best to learn from incidents; and for gas tankers vetting processes, IGC Code, cargo blending and also learning from incidents.

The cautiously optimistic mood about the tanker markets mirrored the same sentiment seen in Singapore two months prior at the Maritime CEO Forum.

The sector is still cautious, panellists agreed at the forum convened by a sister title to Splash, as evidenced by there being next to no period charters fixed for three to five years at the moment. This lack of fixing could rein in owners mulling ordering ships however.

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