Morgan Stanley points to stronger activity in product tanker

The upcoming sulfur regulations are approaching, and this is now starting to really boost the product tanker market, leading to higher rates and ship asset values, writes Morgan Stanley in an update.

Photo: Scorpio Tankers/PR

Significant improvements have emerged in the product tanker market recently.

Annual reports from several of the major players have previously confirmed that 2018 was overall a tough year for the sector. This was most recently illustrated by Maersk Tankers, which booked a deficit of USD 35 million last year, a result more or less on par with that of competitor Torm.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs