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Analysts: Good signs not enough to improve the tanker market

Fewer deliveries and increased scrapping in the tanker fleet provide owners a much-needed breath of fresh air, but that alone is not enough to bring balance to the skewered supply and demand situation within the tanker market, McQuilling Services writes.

Even though there have been fewer deliveries and more scrapping than expected, it is not enough to restore the tanker market to health, the shipping analysts from McQuilling Services write in a new report.

”A breath of fresh air for owners however, has been the slower than expected deliveries this year. The year-to-date slippage rate is about 20%, much higher than the traditional level of around 5%. This has been influenced by ship owners employing a variety of measures to delay deliveries. Tactics include outright cancelations, foregoing options, taking delivery of a different vessel class or inspection delays,” McQuilling Services writes.

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