Tanker earnings in 2002 unlikely to recover; VLCC players remain static

02/11/2002
World tanker earnings for 2001 were in near free-fall, dropping by more than 70% from January to December. And no end seemed in sight for this the third drop-and by far the steepest-in 10 years, according to the December report from Clarkson Research Studies, London. That report was the most recently available through mid-January 2002.Another recent analysis of the tanker industry, this of charterers for very large crude carriers (VLCCs), showed that consolidation among the group in the last 6 years has nonetheless left the players and their shares virtually unchanged. Poten & Partners Inc., New York, released its study of spot-market tanker chartering companies in January.Three troughs ...
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