Tanker Weekly – October 25, 2010

(For The Week Ending October 22, 2010)

Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index rose 2.9%.

I can repeat last week’s comment: “Even though the strike in France keeps vessels employed (at anchor) – the market is still oversupplied. Rates are bellow operating costs.”

Bloomberg story: Supertankers Face Two-Year Losing Streak as Frontline Shuns Oil.

John Fredriksen, the chairman of Frontline, said last month there “won’t be much money to earn” in shipping in the next two to three years.

Chart 1. Baltic Tanker Indexes Relative Performance

Chart 2. Baltic Tanker Indexes

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This entry was posted on Monday, October 25th, 2010 at 4:57 am and is filed under Commodities, Shipping, Tanker Weekly. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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