Tanker charter rates may be "down 80 per cent"

Feb 27 2020


Some tanker charter rates have dropped 80 per cent due to drop in oil demand following the Corona virus, according to International Chamber of Shipping Secretary General Guy Platten, in an interview with Reuters.

"All we know is that there has been an absolute plunge in rates for various classes of ship ... We know that container lines are doing empty sailings," he was quoted as saying.


However other reports were not so depressed. Drewry, a leading container shipping consultancy, said "we expect limited impact on container shipping companies in the longer term".


 

Reuters article
Drewry report


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