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Bulk rates at the same level since the 1970s and a tanker market which has proven far worse in 2016 than expected. Both were central ingredients in a week that was hard to swallow, when ShippingWatch covered the release of half-yearly reports from a range of prominent carriers.

Last year's upswing in the international tank market closed in 2016. Now it looks as though shipowners within crude oil and product tankers must wait 12-18 months, before they see another upwards turn.

2016 looks set to be a tough year for tanker carriers

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