The tanker market is set to profit from an increase in tonne-mile demand because of factors including sanctions against Iran and the US-China trade war. But it will also be affected by a slowdown in global oil demand, which has been caused mainly by slowing economic growth in China, India and other emerging economies. As preparations get under way in the 2nd half of 2019, we could see more barrels being traded, irrespective of potentially slower demand growth across the barrel. However, the incoming International Maritime Organization (IMO) 2020 sulphur cap of 0.5% on marine fuel could mean more barrels traded in H2 2019, before the regulations come into force, which will in turn benefit the tanker market.
The tanker market is set to profit from an increase in tonne-mile demand because of factors including sanctions against Iran and the US-China trade war. But it will also be affected by a slowdown in global oil demand, which has been caused mainly by slowing economic growth in China, India and other emerging economies. However, the incoming International Maritime Organization (IMO) 2020 sulphur cap of 0.5% on marine fuel could mean more barrels traded in H2 2019, before the regulations come into force, which will in turn benefit the tanker market.