Global Tanker Market Foresees Critical Capacity Management in 2021-22

The global tanker market is set for some major changes in the forthcoming year.
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...