Crude tanker prices have bottomed out following a loss of up to 25% in the past year, Morgan Stanley says.
Analyst Fotis Giannakoulis says the latest transactions are showing an upturn in values.
This is driven by a commodity reflation, a declining orderbook and potential demolition increases due to the introduction of new legislation, he argues.
In the bank’s 2017 Shipping & LNG outlook, a VLCC resale was placed at $82.22m,
