Oversupply issues, coupled with moderate oil demand growth, competition from VLCCs and Suezmaxes, as well as low scrapping activity appear to be hindering the future prospects of the Aframax tanker market, according to a recent research report issued by German bank DVB Bank. As the report states although 2009 was the worst year for the Aframax market in over a decade, the market fundamentals indicate that the worst is yet to come.
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Source: Hellenic Shipping News
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