Carriers

Tanker carriers hit rock bottom before impending recovery

In the third quarter, the utilization of tanker vessels was at the lowest level in four years, but the downturn will be short-lived, expects Clarksons Platou.
Photo: DHT
Photo: DHT
by OLE ANDERSEN

Tanker carriers hit the bottom in the third quarter of this year, which also saw the lowest fleet utilization since 2013.

According to analyst firm Clarksons Platou, the downturn was intensified due to a seasonal slowdown and a reduction in Saudi Arabia's oil exports in August. The latter sent daily earnings for VLCCs under USD 10,000, writes the firm in its latest tanker report, according to World Maritime News.

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