ShippingWatch

Clarksons expects significantly lower tanker rates for the rest of the year

Depletion of the oil stockpiles is going much faster than Clarksons Platou anticipated. The shipbroker has cut its rate estimates in half for the biggest tanker vessels for the rest of the year.

Photo: PR / Euronav

Crude oil shipping companies should prepare for rates that are somewhat lower than what the companies experienced during the historical boom that emerged this spring.

At any rate, Clarksons Platou has scaled down its rate projections for the tanker market significantly for the next two quarters, cutting them in half compared to the previous estimate.

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