Experts forecast tanker owners’ heavy losses over the next 5 years

Analysts of a New York-based McQuilling Services forecast over the next five years tankers owners might face unwanted losses, at least $2 million per vessel a year, Lloyd's List reports.

The losses may be due to “oversupply of tonnage and low rates produce poorer cash flows”, the company statement said, adding almost all classes of tankers could face the losses.