Optimistic on Tanker Market Outlook- Nikos Tsakos, Founder & CEO, Tsakos Energy Navigation - Q3 2020

November 23, 2020
3:32 Min.

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Podcast Summary

"Optimistic on Tanker Market Outlook"

Nikos Tsakos, Founder and CEO of TNP, during Q3's 2020 earnings call on November 23, expressed his optimism about the tanker market outlook:

“The epidemic, the dire market conditions and confusion on propulsion technology has created the lowest supply in tankers and vessels in general for a generation. Furthermore, I think that with the confusion of all the regulations coming out, shipowners very rightly so are preferring to slow steam rather than find other solutions in order to achieve the environmental targets, their emission targets that are being set as recently as last week by the IMO.

So in general, I have the feeling that, unless something really drastic, unless we get a third severe wave, and I'm knocking on wood, of the virus hitting us any time after Christmas, we are getting as close of being out of the woods as possible and better days are ahead of us.”