Lorentzen & Stemoco has cut its estimates for VLCC earnings in 2017 by 20% on concerns about excessive tonnage supply.
The Oslo-based shipbroker said expects the large crude tankers to earn around $28,000 per day, according to its latest sector update.
“The scheduled crude tanker deliveries in 2017 stand at 13% higher than the order book for 2016,” says Lorentzen & Stemoco.
“Year-to-date
