Slow tanker fleet growth, robust crude trade signal strong H2 2023 freight outlook

Surging Chinese oil demand, a lingering war in Ukraine, record-low order book and robust crude trade flows have led to a bullish outlook for global tanker freight for the second half of 2023, despite rates declining recently ahead of holidays in the Persian Gulf, market analysts said June 30. Recent OPEC+ supply cuts, particularly by Saudi Arabia, were not seen…