Caught between the devil and the deep blue sea

Tanker owners are looking to rejuvenate their fleets.  Nothing new, I hear you say, ordering new ships is what owners do.

But talk of a nascent consolidation in the sector suggested things could be different this time around. Shipowners with strong enough balance sheets could be looking at other ways to expand, rather than ordering new vessels and adding to an oversupplied market.

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Shipowners wait for the other shoe to drop

You’d forgive shipowners for feeling a little uncertain about their fuel bills at the moment. Last year they faced apocalyptic warnings about the rise in costs to come as European and North American regulators cut sulphur limits for bunkers, but then oil prices collapsed. Many are now left wondering when they’re going to start feeling the financial impact of the new regulations.

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