Old ships are the tanker owners' secret weapon

If the rates take a dive, there are so many scrap-ready tanker ships in the market that the shipping companies themselves have a certain degree of control over supply and demand, Euronav CEO Hugo de Stoop tells ShippingWatch.

by NIKLAS KRIGSLUND

The tanker market is booming, but if the rates turn south, the shipping companies have a secret weapon in their arsenal.

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