Crude tanker forecasts weigh geopolitical tailwinds vs capacity headwinds
- Baltic Exchange VLCC index is at $80,636 per day, with suezmax index at $93,907 per day and aframax index at $92,167 per day
- Geopolitical disruptions are providing support to rates at a time when newbuilding deliveries are poised to increase
- Pressure on sanctioned barrels continues to push more demand to unsanctioned tonnage
The tanker business faces a two-year stretch when supply looks set to outpace demand, reversing the trend of the past half-decade. And yet, rate upside from geopolitics may trump fundamentals
