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We're not buying, say tanker owners as newbuild prices soar - TradeWinds

TradeWinds · last updated

We’re not buying, say tanker owners as newbuild prices soar | TradeWinds

Three key players in the VLCC crude tanker sector said they would not be heading to the market for new vessels despite a 30-year orderbook low.

Euronav, Frontline and Okeanis Eco Tankers (OET) all said they would keep their hands in their pockets as freight rates were not keeping up with soaring newbuilding costs, a Fearnley Securities tanker webinar heard....

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Related Knowledge Center: ENERGY BASICS: petroleum

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While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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