Drewry’s latest Tanker Forecaster shows a market still blighted by surplus capacity. With seasonally weak demand in the second quarter, the short-term view for freight rates does not look positive. Global oil demand declined by 1.0% in the first quarter of the year to 89.9 million bpd, although some recovery in demand is likely in the second half of the year based on seasonal
Drewry’s latest Tanker Forecaster shows a market still blighted by surplus capacity. With seasonally weak demand in the second quarter, the short-term view for freight rates does not look positive. Global oil demand declined by 1.0% in the first quarter of the year to 89.9 million bpd, although some recovery in demand is likely in the second half of the year based on seasonal
