This first half year has proven dreary for the tanker market, with losses posted by most major carriers, but now the market has bottomed out, and the market is moving in the right direction, according to an analysis by analyst firm Drewry.
However, the coming months and quarters will likely also result in losses, notes Drewry, as the demand for oil and the oil trade will need to recover from the effects of the Covid-19 pandemic and the ensuing shutdowns, and this will take time.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.
More from ShippingWatch
As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.