‘Very low’ price levels tempt cash-rich buyers back to product tankers

Investors are returning to the product tanker sector as buyer interest firms following asset-value falls, brokers believe.

Eva Tzima, head of research and valuation at Greece’s Seaborne Shipbrokers, said tanker earnings have rewarded those owners who did not get cold feet and instead held on to their vessels amid increasing oil demand uncertainty and sharply declining vessel prices.

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“At the same time, the healthy profitability of the sector, which should be considered the lowest risk for those who still want to increase their position in shipping despite the overall increasing uncertainty, continues to appeal to several cash-rich owners in the second-hand market,” she...