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 …

The post Tanker market could face sharp rebalancing in next couple of years first appeared on Hellenic Shipping News Worldwide.