The suezmax market has already recovered from its typical second-quarter slowdown, with Nordic American Tankers (NAT) predicting stronger rates in the offing.
The New York-listed, Norway-based tanker owner said the rate lull in late April and early May represented the floor “at levels that in previous years would have been perceived as peak season earnings”.
“This goes to illustrate that the scarcity of suezmax tankers should secure a very interesting market for [NAT] going forward,” chief executive Herbjorn Hansson said in the first-quarter earnings release on Monday.
