The towering fuel costs have completely changed the market conditions and finances of the tank shipping companies, says CEO Joe Angelo of the international association of oil- and chemical tank ships, Intertanko, who finds the Maersk Tankers initiative concerning a new industry solution that will provide the shipping companies with better compensation to make up for the major fluctuations of bunker prices interesting.
“The high bunker prices combined with the low freight rates are worrying. That is why the Maersk initiative to find a solution to the problem is interesting, and we look forward to hearing more about it,” says Joe Angelo.
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