On Monday, the International Energy Agency (IEA) presented a forecast for what the future global energy situation could look like. The Agency predicts, among other things, that North America will start producing massive amounts of oil and gas. And this potential development will be felt throughout the shipping industry, according to several analysts interviewed by ShippingWatch.

“The entire North American continent has become increasingly more self-sufficient than in the past. In a completely sober context, this is bad news for the shipping company,” says Peter Sand, analyst at Bimco, to ShippingWatch.