Subscribe to RSS feedDownturn for VLCCs
by
Obsidian
—
last modified
Feb 26, 2009 12:00 AM
DVB Bank says the “vulnerable” very large crude carrier sector will be the next to experience a significant downturn, as tonne-km demand drops and a “deluge” of 70 new tankers enter trades this year.
Instead, the global fleet of 520 VLCCs will be reliant on China to insulate it against the very worst of the economic downturn, amid the highest oil production cuts in 50 years..
This toxic combination of slowing demand and...
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