OPEC+ shocked the market in early March by keeping production cuts in place. Definitely not what the tanker industry wanted to hear. In typical fashion, it was spun as good news for shipping: Spot-rate pressure would be even worse in the near term, but the pain would end quicker as oil inventories drew down faster. …
The post Light At End Of The Tunnel For Battered Tanker Trade? first appeared on Hellenic Shipping News Worldwide.