Maersk Tankers CEO: Product tanker recovery seeping

Large oil stockpiles and many newbuildings could cut the top of the product tanker recovery in 2016, estimates Maersk Tankers CEO Morten Engelstoft. Last week he delivered the best result in years for the tanker carrier and one of the few bright spots at the Maersk Group.
Photo: Maersk Tankers PR
Photo: Maersk Tankers PR

The top of last year's significant product tanker recovery looks to be seeping slightly in early 2016 due to the many newbuildings being delivered to the global fleet, combined with the fact that oil stockpiles are at this point already filled to capacity, Maersk Tankers CEO Morten Engelstoft tells ShippingWatch.

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