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.
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