Owners warned off suezmax ordering by veteran Hansson

Smaller orderbook could tempt owners to dust off their chequebooks, but experts — including the NAT boss — are urging restraint as demand weakens for this size of tanker

22 November 2013 0:00 GMT Updated 22 November 2013 0:00 GMT

By Andy Pierce London

Tanker owners are being warned not to follow the surge in interest for VLCC newbuildings with a renewed appetite for suezmaxes.

Nordic American Tankers (NAT) chief executive Herbjorn Hansson has suggested 20 or more of the newbuildings in the 44-strong suezmax orderbook will fail to materialise.

However, even if such a cull did occur, it would not open a window of opportunity in that market.

Hansson