Oil Tanker Market Outlook 2020
Both the shipping and refining industries have been preparing for the implementation of IMO 2020. The refining industry will have to alter its product slates to increase the supply of low-sulfur fuels and manage the excess supply of high-sulfur fuels. While shipping companies will have to choose between switching to purchasing low-sulfur bunker fuel, install exhaust gas cleaning systems (scrubbers), or switch to LNG.
In our latest oil tanker market outlook, principal analyst Fotios Katsoulas provides insight on:
- The transition of the fleet in anticipation of IMO 2020
- Tanker demand improving due to non-OPEC additions
- High volatility for spot rates, recovery for period rates and asset prices
- Latest update on bunker market developments
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