The gloomy forecast predicts that a slide in tanker values will not end until 2018 at the earliest as a disastrous combination of negative sentiment and worsening freight rates weigh heavily on the secondhand market.
Metrostar’s sale of the four VLCCs it ordered at Hyundai Heavy Industries (HHI) does not bode well for ship values, says MSI.
Sale of the VLCCs, scheduled for delivery from [HHI] later this year and in 2017 for around $85m each, “suggests that benchmark VLCC resale prices could collapse quickly if this deal ultimately concludes and becomes the new industry yardstick for the last done”, it says.
MSI
