“Bleak outlook” for tankers: Poten
According to new projections by analyst Poten & Partners, there is a gloomy and bleak outlook in the forecast for the world’s tanker shipping market until at least the second half of 2021 when oil demand is expected to increase.
By Michael McGrady, Maritime Direct Americas Correspondent
Starting out in 2021, the international tanker shipping market remains bleak moving into the full physical year, reports Seatrade-Maritime News.
Poten & Partners, a multi-national brokerage and consultancy, predicts that much of the industry is entering a dark age because of the COVID-19 pandemic and its impact on global markets.
“The main underlying reasons for the weak start of the year are clear: low tanker demand combined with too many ships,” Poten notes, via Seatrade-Maritime News. “Oil and tanker demand will remain challenging, at least through the first half of 2021 and maybe longer.”
Tanker rates are also off to a bad start.
A January 15, 2021, tanker opinion from Poten also notes that tanker rates at this early point in the year is certainly damaging.
“2021 is not off to a great start,” notes Poten. “Usually, the winter months are good for tanker rates, but not this year.”
