Analyst firm projects the tanker market will bottom out in first half of 2021

The rates for crude and product tanker vessels got off to a weak start to the year, and according to an analyst firm the market could bottom out in the first half of the year. While rates are moving south, ship values have been more robust.

Photo: Uncredited/AP/Ritzau Scanpix

The tanker market got off to an unusually poor start to the year, and the market could bottom out sometime during the first half-year, writes analyst firm MSI in a new analysis.

"We view the tanker market as approaching bottom in the first half of 2021," writes MSI.

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