The global tanker market is set for some critical capacity management in 2021-22. Weaker freight rates have sapped enthusiasm for new orders, and creaking oversupply of older ships could accelerate scrapping. With uncertainty over pandemic-related oil demand and over fueling ships ahead of key climate goals, a step backward may be the way forward for tankers.
The boom in tanker deliveries in 2019 is set to be followed by a lull. New orders have fallen to decade lows, with the third quarter of...