When oil is not moving that is very bad for tankers. All they can be used for is storage. Which I am guessing commands less daily fees. What we need is for the glut of oil to disappear. The aging boomers, do not buy oil, do not drive, do not consume as much. That is a recession, by itself. Take away a little more and that is a depression.
On top of that there are a lot of tankers available. DHT has positioned itself well to last into 2017, 2018 when I see J Mintzmyer is feeling things might turn around.
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