Platts: Strong Demand for Crude will be Key for 2011 Tanker Market: Report

“A major question that remains in the tanker market for next year is whether the over-investment in buying new tankers will see a strong demand for crude cargoes, ship brokers Poten & Partners said in a report released over the weekend. ‘There have been modest signs of recovery reflected in the fourth quarter 2010 as VLCC cargoes of crude oil in the Arabian Gulf have seen a 20% increase year to date,’ the report said. . . . . Although there are signs of impending gloom for the tanker market, the global crude demand to the Asian countries, especially China and India, offers hope for the sector.”