Trump 2.0 trade war and energy shipping: VLECs now in the crosshairs
- Energy shipping demand is expected to be negatively affected by lower global GDP growth; OECD just cut 2026 GDP forecast
- Wood Mackenzie sees significant negative impact on oil demand if current tariffs are maintained
- Vortexa sees a more inefficient tanker market due to US trade policy and cited a particular concern for US exports of ethane to China
US crude and LNG exports to China are suspended. Propane exports are falling. US ethane exports to China are next on the chopping block. The Trump administration has announced a new ethane licence requirement, and the USTR port fee plan is particularly onerous for very large ethane carriers