Tankers still in demand despite bleak outlook, Hellenic ship owners dominate ordering activity

As the tanker market’s current orderbook has been decreased by 11% over the last year to 118 million dwt, against 132 million dwt, things are starting to pick up for ship owners, with BIMCO’s shipping analyst Peter Sand, reporting that the current pace of new contracts signed (albeit steady) is now slower than that of newbuildings being delivered. Still, as he points out the ongoing ordering activity is taking place at a time when the short and medium-term outlook for all tanker markets is quite bleak.
[Read More]
Source: Hellenic Shipping News