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250 tanker vessels spell good news for a squeezed market

Analyst firm McQuilling confirms that the tanker market is on track for a recovery that has been much-anticipated by CEOs in the strained sector. Rates will increase across several segments, according to the comprehensive report.

Photo: Euronav

According to analyst firm McQuilling, fleet growth in the tanker sector will decline in the coming years, spelling good news for the rate levels.

Altogether, 250 new vessels are poised for delivery to the global tanker fleet this year, with 134 new dirty tanker vessels, 58 product tanker vessels and 58 chemicals tanker vessels. However, over the coming years the growth in the number of new vessels will decline, according to the firm's new report on the tanker sector.

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