Analyst casts doubts on product carriers' 2020 hopes

Shipowners and analysts project solid demand growth for product tanker ahead of the new global sulfur regulations in 2020. But many elements remain uncertain, and there is a lack of concrete data, renowned analyst tells ShippingWatch.

Photo: Torm

In a product tanker market characterized by rock-bottom rates and a massive overcapacity of vessels, IMO's upcoming global sulfur cap stands as a beacon of light that is, by Jan. 1 2020, expected to bring better days for the strained tanker shipping companies.

Major players such as Torm Executive Director Jacob Meldgaard and Ardmore Shipping CEO Anthony Gurnee expect that the new sulfur regulations could boost demand for product tanker shipping by upwards of five percent. And Deutsche Bank anticipates a demand increase of up to 9.1 percent, with the bank having described the regulations as "a potential game changer."

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