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Analyst predicts VLCC rates of USD 100,000 before 2020

Supertanker day rates could reach about USD 100,000 before New Year's, Norwegian shipping analyst predicts. He points to geopolitical unrest and sanctions against a Cosco subsidiary as the causes.

Photo: Edgar Su/Reuters/Ritzau Scanpix

A Norwegian shipping analyst thinks rates for supertankers could end up around USD 100,000 before the end of the year.

In an interview with business media E24, Cleaves Securities Head of Research Joakim Hannisdahl says the attack on Saudi oil production and the US' sanctions against a Cosco subsidiary have created "a perfect storm".

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