Tanker

Torm chief lists three factors that ensure a long-term boom for product tanker

Torms’ chief executive does not expect the tanker market to go anywhere but up in the coming years. The development is carried by three factors.
A historically small order book for new product tankers and increased refinery capacity in the Middle East and elsewhere are among the reasons why the tanker market is in a long-term upturn, says CEO Jacob Meldgaard. | Photo: Carsten Lundager / Torm
A historically small order book for new product tankers and increased refinery capacity in the Middle East and elsewhere are among the reasons why the tanker market is in a long-term upturn, says CEO Jacob Meldgaard. | Photo: Carsten Lundager / Torm
by DANIEL LOGAN BERG-MUNCH

The highly lucrative market has followed us into 2023 in earnest, and it doesn’t seem to be turning around anytime soon.

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