Made in China

It is difficult to deny the severe tanker oversupply situation. Worldwide oil demand has recovered globally surpassing its 2007 peak, despite languishing demand in mature economies. The resultant shift in trade flows and increased volumes on the water have boosted ton-mile demand, but that alone has not been enough to lend support to freight rate levels. While China is certainly doing its part to support the tanker market from a demand perspective, the country also has the ability to significantly impact vessel supply. Download here