Tanker Weekly – October 25, 2010

October 25th, 2010 by Belisarius

(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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