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February was a bad month for the tanker market
Mar 15: Tanker market spot freight rates continued to drop as seen in the previous months.
8Average dirty tanker spot freight rates declined further by 6% in February. Lower rates were seen in all reported dirty classes as limited tonnage demand and lengthy tonnage lists prevented rates from rising in several regions, despite some weather and ports delays.
8The clean tanker market was mostly quiet in February and spot freight rates were generally weak, due to holidays and insufficient activity despite cold weather and occasional delays.
8But analysts continue to insist that the market is at the bottom of the cycle and things are going to look up from here onwards
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