Bimco: Product tank orders up 40 percent in 2013

"The danger is that there'll be so much tonnage delivered that the golden years the industry was hoping for won't be quite so golden," says chief analyst Peter Sand, Bimco.

The constant stream of news concerning product tank orders in both MR as well as the larger LR2 could lead to concerns about whether the expected rebound will be postponed due to significant fleet growth in the coming years.

"That's certainly a reasonable suspicion, but overall I have to say we're still looking at a highly restrained level of fleet growth in the coming years," says chief analyst Peter Sand, Bimco, in an analysis published in August in which he pointed to the "hyped" market for MR tankers.

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