Exec: there is no good news in the oil sector because of the oil oversupply and low prices; its uncertain how long it will take for oil inventories to plateau - earnings call
- Vessel market is less active and pricing is softer than 12 months ago; not surprisingly, given weak oil markets there are fewer vessel purchases out there. Have still been able to sell some vessels in recent months.
- stacked 23 more vessels in Q3
- Q&A: cost reduction on active vessel has included cutting crew wages, not much more we can do to cut costs on active vessels