Crude tanker rates will slip to four-year lows in 2017 as OPEC cuts and accelerated fleet growth combine, Jefferies believes.
Its outlook for the products tanker business is more positive with rates across the various sub-sectors projected to tick up in 2017 aided by higher demand, analyst Doug Mavrinac says.
In Jefferies latest Shipping Quarterly, Mavrinac projects VLCC rates will slip to $25,000 per day in 2017.
