Tanker Demand Will Match Supply by Winter 2012, Teekay Says
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Demand for oil tankers will match supply by the Northern Hemisphere’s next winter, lifting charter rates for the vessels, according to Teekay Corp., the largest U.S.-listed owner of the ships.
“The tanker market is bottoming,” Chief Executive Officer Peter Evensen said in an interview at a conference in London today, adding that the smaller-sized oil tankers which dominate Teekay’s fleet will recover before larger carriers. “We see a recovery in the winter of 2012 going into 2013, when demand catches up with supply.”