D’Amico: We didn’t expect this market to last as long as it has
- Sanctions are creating fleet inefficiencies that have boosted product tanker rates
- Refinery closures in Europe and the US key tonne-mile demand driver
- Plentiful crude supply and strengthening rates should protect product tankers from cannibalisation
On the back of another healthy quarter, d’Amico chief executive Carlos Balestra di Mottola cited the ‘exceptional circumstances’ that are keeping product tanker rates high
