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McQuilling predicts tough year for tankers in 2020

Daily spot rates for the largest supertankers have fallen by USD 13,000 in just one week. Predictions for the VLCC sector look far weaker than they did at the end of 2019, writes analyst firm McQuilling in a new report.

Photo: PR/Euronav

Shipping companies using the very largest tankers may need to prepare themselves for a bad year.

While several market players had previously predicted that 2020 would be a positive year, and tanker companies have reported good accounting results, analyst firm McQuilling has rather surprisingly taken the wind out of the positive expectations in a new report.

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