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The bloodbath

Tankers are haemorrhaging cash

The good

Global oil demand is going to grow for the next 10 years, according to World Energy Outlook 2020, published by the International Energy Agency. While growth will only take place outside the EU, the US and Japan, it will stay below the pre-crisis trajectory returning to its pre-crisis level by 2023 only.

While that is merely a projection, such an outline if it turns out to be right, will challenge the oil tanker industry for much longer. Even with the current low level of new tank...

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