There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. The pandemic waves have disrupted supply chains and cargo flows across the world. Global oil demand was severely hit. Tensions and disagreements regarding oil production between the Organization of the Petroleum Exporting Countries (OPEC) and its allies such as Russia (known as OPEC+) exacerbated the oil supply-demand imbalance.
All of a sudden, the...