The traditionally strong northern hemisphere winter period in the crude oil tankers market looks set to disappoint, reports S&P Global Platts.
“A growing divide between rising short-term fleet supply and limited cargo availability, restricted by OPEC+ production cuts and a slower demand recovery for crude, has impacted the sector negatively and is likely to continue throughout the seasonal winter period,” CEO Hugo De Stoop said in a quarterly results statement.
Weak markets to roll over to Q4That...