Analysts Nicolay Dyvik, Oyvind Berle and Petter Haugen explain limited ordering, a migration of tonnage to crude and volatility of petroleum products prices led to the adjustments.
In an update on the sector today the trio pushed up their 2015 rate view for medium range tankers from $18,000 to $22,000 per day.
Expectations for 2016 and 2017 have been raised to $20,000 per day from the previously projected $18,000 and $19,000 daily respectively.
