UK shipbroker Simpson Spence Young (SSY) is tipping reduced levels of tanker ordering in the final part of 2021 as prices rise at shipyards.
The shop estimates the cost of a new VLCC in South Korea was $87.5m at the start of year, but by July this figure had jumped to $95m.
"Orders are more likely to be based on fleet renewal or with a charter already in place," SSY said in its latest monthly report.
