Export Disruptions Threaten Tanker Demand

Tanker demand is under pressure due to export disruptions, which have reduced seaborne volumes and increased the risk of higher oil prices and weaker economic growth.

Niels Rasmussen, Chief Shipping Analyst at BIMCO, warns that unless normal oil export volumes can be restored, declining oil and product stocks could threaten tanker demand.

Export volumes from the Persian Gulf have fallen significantly, with Saudi Arabia's Red Sea exports also impacted by the Houthis' embargo. Russian exports are being affected by attacks on refineries and oil infrastructure.

Oil and product stock levels have fallen by over 500 million barrels, with refined product stock levels, particularly diesel, under strain.