The first quarter of 2014 has ended rather better for the crude tanker market than the equivalent period last year and mostly better for the clean and dirty products markets.
Acquisitive tanker owner Euronav narrowed its losses in 2013. Euronav reported a loss of $89.8m last year compared to $118.6m in 2012.
Scorpio Tankers has agreed to sell seven of its under-construction VLCCs for a $50m profit.