On Tuesday 9th June 2020 the 5th Online Member’s Meeting was conducted, featuring, Mr George Margaronis, CEO of Latsco Marine Management, who spoke about the tanker market during and after Covid-19, and the future of shipping markets.

He referred to the recent events in the oil market such as:
• The disruption of oil market fundamentals.
• The magnitude of the fall in crude oil and product prices.
• The demand and supply rebalancing, gradual supply cuts, and demand recovery needed to support to the oil market.
• The record amount of oil being stored on large tankers at sea as a result of the “super contango” in the crude oil market after on-shore storage reached capacity.