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2016 looks set to be a tough year for tanker carriers

The negative trend in the tanker market in the second quarter of this year is believed to be worse, than most could have imagined. A Norwegian shipbroker has sunk its rate projections by a whole 30 percent, while Torm and Hafnias stock listings are now believed to be a long way off.

Photo: Hafnia Tankers

Seven months into 2016, things are looking particularly tough for international tanker carriers in crude oil and oil products, and the planned listings in New York from companies such as Torm and Hafnia Tankers are believed to have faded well into the future.

The half-yearly report from a range of prominent tanker carriers such as the Belgian Euronav and Scorpio Tankers indicates that the tanker market has grown increasingly worse in 2016 and more than expected, after last year's massive upswing for crude oil and product tanker carriers driven by low oil prices and an oversupply of oil on the world market.

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