Seeking Alpha

Teekay sees oil tanker rates rising

  • Charter rates for mid-size vessels likely will rise next year as demand expands and ship supply either stays the same or shrinks, Teekay (TK) says.
  • There will be almost no growth for the next two years in the supply of Suezmaxes and Aframaxes, which haul ~1M barrels and 650K barrels of oil, respectively; the fleet of the smaller vessels may even decline while demand will increase by 3%-4%, TK says.
Comments (1)
  • No growth in fleet size? Interesting
    15 Nov 2013, 08:26 AM Reply Like
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