10 May 2019: After the tanker freight market recovered in the fourth quarter of 2018, most analysts (including ourselves) expected that the beginning of 2019 would show better earnings than the comparable period of last year. Unfortunately, that has not been the case. While the start of the year was encouraging, following a strong 4th quarter of 2018, crude tanker rates have weakened in recent weeks to levels last seen one year ago. As a result, tanker rates seem to be back to square one. What are the main reasons that tanker rates have not (yet) shown the improvements that everybody expected?
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