Clarksons slashes VLCC rate forecasts amid trade-war induced global growth slowdown

Clarksons Securities has taken an axe to its VLCC rate forecasts amid slow global growth and weaker oil prices linked to the trade war between the US and China.

The investment bank said the sector remains its main stock pick in shipping, despite a big downward revision in its outlook.

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Analysts led by Frode Morkedal have cut spot rate forecasts to $50,000 per day for this year and 2026, down from $70,000 previously.