Tanker operator Gener8 Maritime reported a 2% drop in first quarter revenues on a year earlier, but did 3% better than analysts expected. That was likely due to a 22% rise in TCE rates vs. the fourth quarter, compared to spot market rates that increased 7%. That outperformance was also seen by Bahri. Nonetheless Panjiva analysis still indicates tanker industry revenues fell 4% on a year earlier in the first quarter. Gener8 management have a more upbeat outlook than their peers, stating that capacity concerns are “overstated”. That’s due to the ageing of the fleet and environmental regula...