Market Outlook

摘要

1.The short-term outlook for the tanker sector in 2021 appears challenging, with the market expected to continue to face pressure from a range of factors. Against a backdrop of ongoing oil supply cuts and impacts on oil demand from renewed 'lockdowns' in key regions, seaborne oil trade remains under severe pressure (falling by an estimated 13% y-o-y in December, with January expected to have been similarly weak). Latest projections suggest only a limited 'bounceback' in oil trade this year of 4% after the severe disruption of 2020 (volumes fell 9%), whilst pressure is also expected from the further easing in floating storage, on top of underlying fleet expansion of 1.7% (following on from growth of 3.1% in 2020).