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Euronav CEO sees benefits to last year's downturn

Paddy Rodgers, who will soon step down as CEO of Euronav, notes that last year's weak rates in the tanker market had a positive effect on the balance between supply and demand.

Photo: Global Maritime Forum

Euronav CEO Paddy Rodgers says that last year's miserable tanker market could end up being a positive thing for shipping companies transporting crude oil.

According to Rodgers, weak rates helped in the sense that they sent more ships out of the market, creating a better balance between supply and demand. As such, 2019 is off to a much better start.

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