Despite doomsaying from some corners of the market, Nikolas Tsakos expects the tanker market to be back to normal by the end of the year.

During a conference call held by Capital Link on Thursday, the Tsakos Energy Navigation (TEN) chief executive said 2020 has not turned out the way anyone expected with Covid-19 and the Saudi Arabia-Russia oil price war.

But Tsakos said this year could still end in a good place as things were "starting to normalise".