Oil-Tanker Crews Seen Quitting on 40-Year High in Losses
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Oil-tanker owners will struggle to retain crews and maintain ships after losing the most money in four decades, according to the industry’s biggest trade group.
The problems won’t ease any time soon because some vessel rates may take as long as four years to rebound, said Katharina Stanzel, the managing director of the International Association of Independent Tanker Owners, or Intertanko. Its members operate more than half of the world’s tankers by capacity.