Tanker owners are entering the “bliss period” of a market cycle with small orderbooks, growing longhaul trade and IMO 2020, an industry conference has been told.
With this year’s vessel earnings generally meeting, or even exceeding earlier market expectation, major listed owners of crude and product carriers have presented a rosy outlook for 2020.
“Sometimes the market is like a wedding, for short periods of bliss and a lot of misery,” Tsakos Energy Navigation president Nikolas Tsakos said in the Nordea Bank’s annual shipping seminar.
