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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