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Maersk: Giant product tank order book

The order book for MR product tankers is immense and the industry is about to demolish all hopes for a rebound in the near future, warns Chief Commercial Officer at Maersk Tankers, Klaus Rud Sejling, on Tuesday.

Klaus Rud Sejling, Commercial Director at Maersk Tankers, warns that the dramatic activity in ordering new MR ships could risk destroying the otherwise positive prospects for product tank.

At a conference in Singapore today, Tuesday, Klaus Rud Sejling, according to Seatrade Global and Tradewinds, said that the tank industry seems satisfied that one-year time charter contracts for MR (Medium Range) tankers are currently at USD 14,000 per day. But anyone investing money in an MR, paying USD 35-50 million for a ship, ought to know that USD 14,000 per day is not even close to the rate necessary to secure returns on such an investment..

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