Torvald Klaveness and Klaveness Combination Carriers (KCC) are proud signatories of the Sea Cargo Charter. An industry initiative that will set a…
Tanker shipping: worst not yet over as industry pays for the strong second quarter
This year, tanker shipping will not benefit from the usual strong winter seasonal effect. Though the new lockdowns being introduced in many countries are less strict than in the spring, the effect on tanker shipping will be worse, given the oil supply glut of Q2. The news of an effective vaccine offers some hope of a global oil demand recovery but, however it comes about, it will be slow and drawn out, and it will be at least 2022 before global oil demand returns to pre-pandemic levels. Demand drivers and freight rates The arrival of winter usually gives a seasonal…