Tanker

Tanker market is recovering after a slight dip in freight prices

Although a production cut in OPEC and Saudi Arabia has affected oil prices and supplies in recent months, the tanker market looks strong for the rest of the year, according to an investment bank.
Hafnia achieved its best Q1 result ever this year, making a profit of USD 256.6m compared to USD 21.3m in the corresponding period last year. | Photo: Hafnia
Hafnia achieved its best Q1 result ever this year, making a profit of USD 256.6m compared to USD 21.3m in the corresponding period last year. | Photo: Hafnia
by DAG HOLMSTAD

The strong market and high earnings look set to continue for tanker carriers for the rest of 2023, even though OPEC countries and Saudi Arabia have made cuts to the oil production, giving shipping companies and refiners less to work with.

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