Market Update: “Yes, we still expect a stronger tanker market from summer onwards”
We are now in the middle of the first quarter of 2021 and the tanker market remains very weak. We are not expecting any significant change during this quarter – but, as we wrote in the 2020 year-end report, we believe that there will be a gradual strengthening from Q2 onwards.Several interacting factors point to this: 1. A continuing increase in demand for oil and oil products World oil consumption continues to increase. With vaccines, stimulus packages and general optimism, the global recovery is now clearly on the right track. We, and many others, consider that oil consumption