China Merchants Energy Shipping Lifts Second Half Tanker Rate Outlook
China Merchants Energy Shipping told investors Friday that the recent decline in spot rates for very large crude carriers (VLCCs) is temporary noise within a structural upcycle, and raised its rate outlook for the second half of the year. VLCCs are the largest class of oil tankers and transport the majority of global crude shipments by sea.
The shipping line’s raised guidance contrasts with analyst warnings that the market may struggle to maintain current pricing levels as new tonnage returns to service. The divergence highlights the ongoing tension in the tanker market between bullish structural demand signals and short-term supply pressures.
From the sources (2 posts)
@lloydslistChina Merchants Energy Shipping has told investors the very large crude carrier spot market pullback is merely noise inside a structural upcycle, lifting its second-half rate outlook even as analysts warn returning tonnage could cap the ups
@mercoglianosRT @LloydsList: China Merchants Energy Shipping has told investors the very large crude carrier spot market pullback is merely noise inside…