Amid existing shipping challenges from conflicts in Ukraine and Yemen, a potential conflict between Venezuela and Guyana poses a new threat to global trade, particularly impacting the crude tanker industry.
Venezuela-Guyana Tensions
Venezuela’s threat to invade Guyana over disputed oil-rich territories jeopardizes shipping routes. The conflict could disrupt Guyana’s growing crude exports, affecting nearly 11% of regional exports and potentially tightening the Atlantic market for tankers.
Impact on Tanker Demand
A Venezuela-Guyana conflict could have a double-negative impact on tanker demand. It may derail Guyana’s oil industry growth and lead to renewed U.S. sanctions on Venezuelan exports, affecting shipping dynamics. The consequences, while less significant than previous conflicts, highlight potential disruptions in the tanker industry.
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Source: Freight Waves
