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No supertanker orders in the third quarter

Higher prices and concerns over the order book have meant that the number of new orders for the major VLCC vessels in the third quarter landed at zero, writes JP Morgan in a new report.

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"The shipping gods answered our prayers, as Q3/18 finally saw the end of large scale ordering of new ships," says Noah R. Parquette, analyst at investment bank JP Morgan, in a new report on the tanker sector before adding that not a single VLCC vessel was ordered in the quarter.

According to the report, this is likely due to a combination of higher prices and concerns about the order book.

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