Subscribe to RSS feedTanker sector hits new low
by
Obsidian
—
last modified
Mar 26, 2009 12:00 AM
Medium range tanker rates crashed to below US$4,000 per day last week, forcing owners to contemplate removing their tonnage from the market to join idling bulk carriers and containerships.
The dramatic fall in rates in clean products trades lead an overall downturn for the tanker sector, after it experienced record average earnings in 2008.
It's bad, really bad, a US-based broker told Lloyd's List .
He forecast...
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