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VLCC Scrapping Up
With intense international attention focused on older ships, many interested parties are waiting to see if the resultant pressure to utilize new tonnage will result in a scrapping/build boom.
Brokers See End To Tanker Slide
A continued slide in Middle East tanker rates to near year lows was expected to end this week by the emergence of Saudi stems and a resumption of Iraqi exports, shipping brokers said.
Seaonal Surges Not Enough To Lift Rates From Depression
Sustained strong oil demand growth is required to lift product tanker freight rates out of their current depressed levels, shipbroker Simpson Spence & Young said in a new report.