Rates to hire oil supertankers are likely to remain very high until the end of the year, said the head of a major shipping operator,
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Hugo De Stoop, chief executive of Euronav, which owns one of the world’s biggest fleets of supertankers, told the Financial Times that “it will take a few weeks or even months” for prices to settle.
The upcoming IMO 2020 regualtions will have an effect on all shipping rates. This regualtion appears to be driving rates up in many shipping segments.
I laid out the case for a bullish case for shipping stocks in a recent article.
Trump putting sanctions on a Chinese tanker compnay for hauling Iranian crude has also added fuel to rates.
I remain long shipping. However, be careful because there are around 7 or 8 shipping segments and they are all not effected the same way.
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