Sanctions and renewed conflict threats put geopolitics ‘back in driver’s seat’ for tankers
- Whether the West imposes additional, stricter sanctions and whether Israel and Iran can maintain peace will have huge impact on the direction of tanker markets
- More sanctions will boost demand for compliant fleets, further reinforcing the strong momentum already evident in freight rates, analysts and tanker executives argue
- FGE chairman predicts ‘almost certain’ Iran-Israel military action as soon as next month that could stir oil and tanker markets
Rates are being pushed up by Opec’s output increase and seasonality. But geopolitical tensions and tightening Western sanctions are driving renewed volatility and uncertainty in the global tanker market
