The steel monsters making billions from oil crash

TIN news: The most destructive oil crash in a generation is giving ship owners a billion-dollar windfall With the OPEC abandoning output limits in a drive for market share, ships that carry as much as 2 million barrels a trip are in demand to haul crude from the Middle East to Asia and North America. While oil prices fell about 35 percent in 2015, average eaings for these carriers jumped to US$67,366 a day, the most since at least 2009, according to Clarkson, the world’s largest shipbroker. “The ...