Jan Rindbo says rates above 100,000 are unsustainable: Some customers withdraw

Tanker rates of USD 100,000 are not sustainable in the long term, as they could make customers withdraw, says Norden CEO Jan Rindbo. Rates are starting to normalize again, while the CEO predicts a difficult second half-year.

Photo: Lars Krabbe/ERH

Rates in the tanker market of more than USD 100,000 per day are not sustainable in the long term, projects Norden Chief Executive Officer Jan Rindbo.

He spoke to ShippingWatch on a day when the shipping line upgraded its guidance for the full year 2020 based on a strong tanker market where demand is high.

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