Arne Fredly's tanker operator postpones market recovery after new infection wave

Hunter Group, controlled by Norwegian Arne Fredly, projects that the new wave in the coronavirus pandemic has pushed a recovery in the tanker market even further down the line. The company reports a solid profit for the third quarter.

Photo: PR/Euronav

The second wave of coronavirus has pushed the prospects of an improvement in the tanker sector even further into the future, says Norwegian tanker operator Hunter Group, controlled by Norwegian investor Arne Fredly.

"The second wave of Covid-19 cases and escalating restrictive measures around the world have increased uncertainty around future global oil demand and has likely pushed the inflection point for a tanker market recovery further into 2021," writes Hunter Group in its report for the third quarter.

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