18 Aug 2017: Poten monitors the Suezmax market for its customers on an ongoing basis. Our Suezmax desk looks at the tonnage profile, reviews the ships that are open in the next 30-day window as well as the overhang (ships before the window) in each of the four main loading zones that they follow in detail. Utilizing all the market information they collect, our spot brokers can make an assessment of where they think the market will be heading the following week. The good news is that their forecasts are quite accurate, the bad news (for owners at least) is that earnings have been quite dismal this year. Last year around this time we wrote a Tanker Opinion entitled “Where Have All The Good Times Gone?” In that opinion, we lamented the poor fortunes of the Suezmax tankers and attributed much of the hardship to fleet growth and the challenges in Nigeria as well as the normal summer swoon. One year later, we seem to be in the same situation. Is history repeating itself or is there something else going on?
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