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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

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