OPEC production cuts and continued fleet growth have led Seaport Global to pull down its tanker rate expectations for 2017.
Analyst Magnus Fyhr is projecting a strengthening of the market next year with limited newbuilding activity helping to balance the market after 2018.
Fyhr explains a reduction in OPEC crude oil exports will impact crude tanker demand during the first half of 2017, leading to his downward rate revisions.
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