Tanker operators facing far better third quarter than expected

Results from several major tanker operators indicate that the third quarter will be much better than expected, projects Clarksons Platou. Earnings still benefit from the high rates seen earlier this year, while problems related to crew changes have lowered costs.

Photo: PR/Euronav

The third quarter looks set to be far better than feared for the tanker operators, even though rates have dropped from the high levels recorded earlier this year, projects broker Clarksons Platou.

The broker's optimism comes in the wake of interim reports for the second quarter from major tanker operators Euronav and Scorpio Tankers.

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