How Trump’s trade war could play out for crude tanker rates
- Tariffs could reduce global GDP growth and oil demand, a negative for crude tanker rates
- If demand falls faster than production and oil pricing goes into contango, refiners could store more oil, a positive for crude tanker demand
- VLCC index rates are at $39,552 per day, 32% below suezmax rates and 23% below aframax rates
Crude tankers are not directly impacted by the US-China trade war, but they are expected to face significant indirect consequences. Brokers and analysts cite both negative and positive scenarios, with sentiment favouring the negative