VOL. XXXVII
NO. 21
21-FEBRUARY-1994
Still A Testing Time For Tankers
by Kevin Shilleto
Mr. Shilleto, who wrote this article for MEES, is a Director of the Londonshipping consultants Internaft Ltd.
It is midwinter and tanker rates stand at an all time low - close to $5,000 aday for an existing VLCC (Very Large Crude Carrier) when newbuildings nowentering service require $40,000 to trade profitably. Obviously the boom envisaged by tanker owners who rushed to public subscription last year on thebasis...
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