Tankers Look Good

The Opec+ is meeting today and we expect on line decisions with no major surprises. There should be a gradual output increase up to 2.6 million boe per day by the end of September. With a relatively average to low level of inventory and an increase volume of tanker scrapping, the outlook for tankers and product tankers is looking good for the second half of the year. The IMO decision to be officialised on June 17th was not greeted with much enthusiasm by 27 governments which think it is far from sufficient. This may further differ the decision to build new ship as the fuel of the future is still unknown.
In the meantime, enjoy the journey.