Secondhand market for product tankers drops 15.7%
The secondhand market for product tankers has registered a fall of 15.7% year on year despite spot earnings spiking in the segment. The current oil demand scenario suggests a gradual recovery, with asset prices likely to continue to lose steam in the coming months
The low appetite for second-hand product tankers partly indicates that the medium-term outlook remains clouded by uncertainty, said BIMCO's chief shipping analyst Peter Sand