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Tanker market will remain strained in 2019

Next year will also be a tough year for many tanker ships, projects analyst firm McQuilling. A market recovery will take time and require patience, notes the firm.

Those waiting for an imminent recovery of the severely strained tanker market must arm themselves with patience, as a fundamental improvement of the market will take time, says US-based McQuilling Services.

The analyst firm projects that the tanker market for crude oil and residue fuel products will remain under pressure from excess ship capacity in 2019, resulting in weak earnings for the big VLCC carriers and other tanker segments.

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