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Analysts revise prospects for tank market

US-based analysts McQuilling lowers expectations for the tank market in 2013, according to a new report for the first half of 2013.

Expectations for the tank market have gone down since the beginning of the year, according to estimates from US-based analysts McQuilling who, in a new report for the first half of 2013, Tanker Market Outlook, downplays earlier predictions about the market.

As the year began, McQuilling - on the basis of fewer deliveries of new ships, more scrappings, and a slight improvement of the global ecomony - expected that the market for crude oil tankers would be aided by these market conditions, while on the other hand, the analysts predicted difficult times ahead for product tank, petroleum, due to many carriers' large appetite for new tonnage.

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