Owners of suezmax tankers are struggling to make a living given the abysmal freight market.
Spot rates have fallen recently to an average of below $5,000 per day, even less on some routes.
Owners of suezmaxes built before 2000 face increasing amounts of idle time, while vintage tankers may be limited to trading solely in the Far East.
Some owners remain optimistic about ship values, however, even though the difference in price expectations between buyers and sellers has resulted in a very illiquid sale-and-purchase (S&P) market.
Speculation
