"Slowest growth in oil demand in 6 years" to drive tanker rates down 65%

Discussion in 'Wall St. News' started by ByLoSellHi, Jul 7, 2008.

  1. Right. I agree almost completely. With one caveat:

    Viewing the past six years, they said the growth rate in oil demand/usage is now at its low point.

    But yes, the fact that they chose to build and float so many ships certainly is helping (an understatement) to drive tanker rates down as much as they claim.

    So, they may not have picked the most opportune time to ramp up supply of new tankers, unless oil demand/usage growth accelerates soon.
     
    #11     Jul 7, 2008