ShippingWatch

155 new ships can prolong tanker shipping's troubles

While some carriers are confident that the downturn in the tanker market could be shorter than expected, analyst firm Drewry points out that the many newbuilds look like an impediment to an upturn.

Gothenburg Harbor Photo: Gøteborg Havn

A large number of newly-built ships threatens to stifle all possibilities for an upturn in the tight tanker market, Drewry evaluates.

According to the analyst firm, 155 newbuilds will hit the water this year, and that is many more than the demand for crude oil can support. Carriers must therefore prepare themselves for a prolongation of low rates for some time yet.

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