29/10/2013at 15:34

Braemar: The VLCC spot market is broken

In a struggling VLCC market, owners are unable to sustain their economies in the spot market, which is completely broken, says Research Director at Braemar Seascope.

BY JØRGEN RUDBECK

Black clouds continue to weigh down the prospects of the struggling tanker sector. The spot market has been completely ruined as a result of persistent overcapacity and declining US demand, says Mark Williams, Research Director at Braemar Seascope, at the Seatrade Tanker Industry Conference in Copenhagen.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Platou: Libyan oil production could aid tank market
For subscribers
VLCCs look set to benefit from LNG fuel
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Logistics

Maersk chair on investor criticism: "I get the feeling that ATP also will ask about it next year"

Denmark’s largest pension fund wants greater insight into how Maersk will make money from logistics. There are limitations to transparency, chair says.

For subscribers

Carriers

Weco Shipping lands yet another record profit: "It has been a great year"

For subscribers

Foto: Marvin Ibo G'ng'r/AP/Ritzau Scanpix

Logistics

Media: Divestment of DB Schenker unlikely to finish before 2024

For subscribers

Joe Nielsen, partner at A.P. Møller Capital. | Foto: A.p. Møller Capital

Logistics

APM Capital acquires South African logistics company

For subscribers

Suppliers

DNV expects continuation of strong growth in 2023 after record-breaking 2022

For subscribers

Tanker

Major stakeholder sells off Torm shares after share rally

Maersk chair on investor criticism: "I get the feeling that ATP also will ask about it next year"

Denmark’s largest pension fund wants greater insight into how Maersk will make money from logistics. There are limitations to transparency, chair says.

For subscribers

Carriers

Weco Shipping lands yet another record profit: "It has been a great year"

The group, which is owned by the Danish baron Johan Wedell-Wedellsborg, has managed to double its bottom line in 2022.

For subscribers

Logistics

APM Capital acquires South African logistics company

A.P. Moller Holding’s investment company eyes growth potential in the African logistics operator, which has specialized in storing and transporting refrigerated food products.

For subscribers