Tanker supply side bodes well for rate recovery
Shipping analysts from Cleaves Securities and Jefferies have made their forecast for the tanker market entering 2021. The supply side is encouraging for a rate revival when demand returns to pre-coronavirus levels
The big downside risk factor is multiple peaks of coronavirus that will leave oil demand hanging in the balance. Oil tanker demand could contract by up to 5.9% next year, according to Cleaves
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