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Frontline: Tankers will become lucrative in 2014

CEO of Norwegian Frontline, Jens Martin Jensen, anticipates a more lucrative market for tanker carriers in the coming year, where exports from some of the oil producing countries are expected to grow.

There is a glimmer of light on the horizon that will hopefully bring better times for the tanker market in the coming year, says Jens Martin Jensen, CEO of Norwegian Frontline, which like several other carriers in the tanker segment has been struggling with low rates and overcapacity, particularly in the VLCC market - though this segment did experience a strong boom in the final months of 2013.

The Chinese New Year at the end of this month will, however, bring lower demand, subsequently resulting in a rate dive, though the rates will return to their current level, says Jens Martin Jensen:

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