$NAT Put the pieces together, go to the comment section of $TNK ER ...ask yourself WHY would TNK be locking longer term contracts if storage opportunities/fees are so great...??? hellenicshippingnews.com/we... Now 4 weeks running spot rates have fallen, why because the industry has quickly reversed to an over supply of Oil shipping capacity as the Saudis/OPEC have taken Millions of barrels of freight off the market...and it will not increase back to decent levels for months, possibly longer. Now the ones like TNK that are getting ahead of the trend will have okay earnings...the ones later to the party will be facing Negative/Losses soon enough as the fight for freight drives spot prices below break even once again. $FRO $EURN DO NOT TOUCH THE SECTOR.
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