Oil supertankers brace for worst year since 2013 on OPEC cuts

OPEC's decision to slash crude output by 1.2 million barrels per day will hit VLCC earnings next year, project several analysts. As such, the supertankers could face the worst earnings year since 2013.

Euronav VLCC | Photo: Euronav

Oil-hauling supertankers are bracing for the worst earnings year since 2013 as they become collateral damage in OPEC’s quest to trim a global glut of crude.

This can lead us back to the market in 2013"

Frode Mørkedal, analyst, Clarksons Platou

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs