Intertanko forecasts sluggish tanker market

08/02/2010
Intertanko predicts a sluggish tanker market moving forward, with lackluster economic and demand forecasts combining with use of vessels for storage, vessel recycling, and deferred vessel deliveries to create uncertainty. In its 'Annual Review and Report 2009-10' the association of tanker owners and operators noted that the industry had started 2010 in better shape than might had been expected, given the 7% fleet growth and decline in seaborne trade also cited by Clarkson (see lede tran article p. 110).Looking forward, however, Intertanko described the continued growth in tanker supply as the fundamental problem faced by the industry, outweighing the mitigating factors which allowed the y...
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