The future of the tanker market
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THE tanker market has gone through radical changes in the past year as the dramatic changes in the price of oil have had corresponding ramifications on market dynamics.
Factors such as tonnage being taken off the market for oil storage started to come into play for the dirty tanker market while in product tankers, the flowthrough from the solid recovery in the crude carriers was expected to appear there too.
According to a report from Bimco, the world's largest international shipping association, during the last year, global refinery throughput started the year strongly but entered a still running soft patch in the middle of the year.
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