ShippingWatch

Tanker carriers are slowly coming in from the cold

The weak oil market is recovering, but many newbuilds and too little scrapping could delay the upswing for tanker operators, assesses Danish Ship Finance in a new analysis.

Photo: PR / Euronav

Tanker operators can finally look forward to better times after having reached a low during the coronavirus pandemic as a result of low demand for crude oil, writes Danish Ship Finance in the latest iteration of its biannual analysis of the shipping market.

Although the Organization of the Petroleum Exporting Countries have held back on oil supply – and thereby extended the torment of tanker carriers – the oil market is recovering once more, states the analysis.

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