Euronav: Oil peak cuts the edge of tankers' lifespan

The prospect oil demand peaking within the years to come contributes to lowering the usable lifespan of a tanker vessel to between 17 and 20 years, Euronav CEO Paddy Rodgers tells ShippingWatch.

Photo: Euronav

It can be difficult to grasp the numerous future scenarios facing the shipping sector. Still, one element has settled in firmly at executive offices among the tanker carriers, though no one knows exactly when the situation will emerge.

But the peak in demand for oil will come, says Paddy Rodgers, CEO of Belgian tanker carrier Euronav, in an interview with ShippingWatch. The carrier has for years been expanding its fleet of VLCC supertankers in a process that was kicked off for real with the acquisition of Maersk Tankers' 15 VLCCs.

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