News Headlines:
Tanker Market in the Doldrums As Owners Lose Liquidity By the Day (Hellenic)
In stark contrast to the dry bulk and container segments which have been rallying for much of 2021, the tanker market is more than lackluster. Owners have seen their liquidity drained, as earnings have remained below OPEX levels for several quarters now. As a result, newbuilding projects have been anemic, while SnP business has been mainly driven by speculation.
Oil prices fall in biggest losing streak since February 2020 (Reuters)
Oil prices fell for a sixth day, the longest losing streak since February 2020, as a spike in COVID-19 cases worldwide fuelled fears over slower fuel demand while a surprise build in U.S. gasoline inventories added to pressure. WTI has dropped over 7% while Brent has slumped more than 5% during the six-day losing streak
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