Thriller season is set to begin for major carriers

More than 10 carriers, including the heavy weights of the tanker industry, will present second quarter interim reports this week. According to Deutsche Bank's shipping analyst, this will be one the most interesting financial periods to date.

Photo: Euronav

Several listed carriers will launch the season for second quarter financial results this week. A period which Deutsche Bank's shipping analyst, Amit Mehrota, describes as one of the most interesting periods in shipping to date, in which the financial reports from the two major tanker carriers, crude carrier Euronav and Scorpio Tankers in product tanker, are anxiously awaited.

These two companies, particularly Euronav's CEO Paddy Rodgers, have stubbornly maintained a high level of optimism about the tanker market's prospects in spite of weak spot rates for VLCCs, currently close to only breaking even, while the levels are loss-making for Suezmax and Aframax, and the stock development for all tanker carriers is in poor development.

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