Are We There Yet?

31 Mar 2017:  The sentiment in the tanker market is pretty depressed at the moment, in particular for crude oil tankers.  While the market weakness is not entirely unexpected – a combination of OPEC production cuts and significant fleet growth is not a recipe for booming freight rates – owners are wondering what this weakness early in the year tells us about the rest of the year (if anything).  Are we in for a seasonal recovery soon or will it get worse still?  While we don’t have a clear cut answer to this question, there are some factors that we can monitor that will drive the market in the short and medium to long-term.

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