Magnus Fyhr of Seaport Global has lifted some of the gloom around the crude tanker market and suggested it’s time for investors to show their contrarian streak.
In a tanker market update on Wednesday Fyhr said the near term headwinds of OPEC production and newbuilding deliveries had been well documented and were priced into stocks.
Now, with vessel values at historic lows and bottoming out, the risk reward balance is becoming increasingly attractive, he argues.
