Short Term Pain
Yesterdays news that OPEC+ would keep production unchanged for April was not exactly what the tanker market wanted or needed. Undoubtedly this move will create more short-term pain for the sector with very little change in cargo volumes expected for at least another month. However, the short-term pain induced could sow the seeds for a quicker recovery in seaborne trade and perhaps accelerate the underperforming tanker demolition market.
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2021 03 05 - Short Term Pain |
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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