Mid-Size Tankers Ride High on Winter Demand Surge And Long-Term Strength


Mid-size tankers have firmed significantly ahead of the seasonally stronger winter months, while positive long-term supply fundamentals remain intact, according to an article published on its website.

Crude oil exports

Rising seaborne crude oil exports from key mid-size tanker load regions, an increase in refinery throughput to meet winter oil demand, and the onset of seasonal factors have led to a significant increase in mid-size tanker spot rates at the start of Q4-23, and we expect rates to remain firm in the coming months.

Looking further ahead, a small tanker order book, a lack of available shipyard capacity until 2027, and an aging fleet point towards continued strength for spot tanker rates over the medium term.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Teekay


This site uses Akismet to reduce spam. Learn how your comment data is processed.