NO INCREASE IN TANKER DEMAND LIKELY”
TRANSPORTATION consultants McQuilling Services says that its latest study into crude oil tanker demand shows that no increase is likely this year.
The consultant says that there was firming demand during the fourth quarter of 2008, “rather surprising” as all other economic and market indicators were pointing downwards. The increase however was in the aframax and panamax sectors while VLCC demand, dropped suezmax demand growth was “relatively flat”.
Based on an International Energy Agency forecast of a 1.1% drop in oil exports McQuilling does not expect liftings to increase in 2009. It concludes that the “likelihood of increasing tanker demand in 2009 remains poor, in our opinion”.