Oil crisis creating new tanker market dynamics: Euronav CEO

摘要

London-The coronavirus pandemic has led to a shift in the tanker sector’s supply-and-demand dynamics, with the floating storage bonanza that caused freight rates to spike set to provide three bumper quarters in 2020, according to Hugo De Stoop, CEO of Euronav, one of the largest global tanker operators. De Stoop said in an interview with S&P Global Platts on Sept. 7 the current oil crisis had affected many people in many directions in terms of investment capacity, with an intensification of temporary storage used as a market buffer now a key part of the landscape.