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New Maersk executive predicts tanker collapses in 2013

Several tanker carriers are probably headed for bankruptcy in 2013 as their timecharter contracts signed in the good years will end Michael Powell, who will join Maersk Tankers in the near future, tells Lloyd’s List.

It is highly probable that several tanker carriers are headed for bankruptcy during 2013 when their timecharter contracts signed during the boom period will expire, Michael Powell tells Lloyd’s List. In the near future, Michael Powell will begin his new job as Head of Operations at Maersk Tankers after having managed his own consultancy firm Cardinal Point Marine.

According to Michael Powell, a large number of timecharter contract signed in the beginning of 2008 will expire this year.

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