Danger Ahead?

June 7th 2024:Weather forecasters predict a very active hurricane season We are in June and that means, that the Atlantic hurricane season, which runs from June 1st to November 30th, has officially started. On May 23, the National Oceanic and Atmospheric Administration (NOAA) announced their 2024 Atlantic hurricane season outlook and they expected it to be the most active one America has ever experienced. According to the NOAA, there is an 85% chance of an above normal season. They call for 17 to 25 named storms, of which 8 to 13 are forecast to become hurricanes and 4 to 7 major hurricanes (storms with winds of more than 110 miles per hour). To put that in perspective, during the 30-year period between 1991 and 2020, the average was 14 named storms and three major hurricanes. In this Tanker Opinion we discuss how hurricanes can have a major impact on the tanker market, both directly and indirectly.