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IMO effect reaches product tanker market much later than anticipated

The product tanker market is benefiting from the recovery the tanker market has experienced in recent months, but the increase has yet to emerge. Analyst doubts long-term IMO effect, but CEOs in the segment are positive.

Photo: PR / Torm

With less than a month and a half to the deadline when IMO's 2020 sulfur regulations come into force, the world's product tanker shipping companies have far from experienced the boom they had hoped for and to a certain extent anticipated.

In recent weeks, product tanker operators such as Norden and Torm have published interim reports with red bottom lines, featuring rates that have only recently started to improve.

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