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Morgan Stanley: Is the tanker boom over?

Rates for the largest crude oil carriers have dropped to the lowest level this year, and the prospects for the entire tanker market in 2017 are looking a little fuzzy, project Morgan Stanley's shipping analysts.

Photo: DHT

The rates for Very Large Crude Carriers, VLCCs, and the draught horses for the smaller vessel types in crude oil, as well as for refined oil products (product tanker), declined further last week by 55 percent.

The rates for super tankers have thus dropped below the break-even point for most carriers for the first time in a long time, Morgan Stanley's shipping analysts write in a comment released Monday, where they ask themselves if the upsurge in tanker is reaching an end.

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