Gibson: Crude tanker carriers off to miserable start in 2018

Even though 2018 has been predicted to end as a bad year for crude oil tankers, the earnings level in January still came as a negative surprise, according to a report from Gibson Shipbrokers. The development is blamed on OPEC as well as overcapacity.

Photo: PR-foto: Euronav

2018 has thus far proved a particularly tough year for the tanker sector.

While this year has been predicted to be tough for crude oil carriers, "extreme weakness" in spot earnings (TCE) across all tanker categories in January nevertheless managed to surprise many, say Gibson Shipbrokers in a market report.

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