Tanker owners remained bullish at a Marine Money conference in London on Wednesday despite concerns about an oversupply of tonnage as the newbuilding orderbook continues to grow.
Tanker owner Euronav has seen its best quarterly result since before the global financial crisis, with massive year on year profit increase in Q1 to $80.9m versus $1.3m the same period in 2014.
As private equity becomes a more established part of the shipping industry's financing mix, its judgement by industry leaders has moved to something more substantial than the "wait and see" of just a couple of years ago.