VOL. XXXI

NO. 2

19-OCTOBER-1987

THE TANKER MARKET AND THE GULF WAR

by Kevin Shilleto

(Mr. Shilleto, who wrote this article for MEES, is a Director of the LondonShipping consultants Internaft Ltd.)

The oil tanker business continues to flirt with better times but refuses anongoing relationship. Last year's crude price collapse led to a temporaryfirming of freight rates and a certain movement to the shipyards for new largetonnage. Since January 1986, 23 VLCC's of 5.87mn dwt have been ordered. This...