Our 2023 Crystal Ball
Key tanker market developments for 2023
Many researchers and analysts start the new year with a forecast of what will happen in the markets. This is a very dangerous thing to do; just look at the last three years. Nobody forecasted Covid-19 and – apart from a few Kremlin insiders – the Russian invasion of Ukraine was also totally unexpected. Both events caused significant personal losses and had a massive impact on the global economy, the energy markets and the tanker market. With the ongoing war in Europe, the threat of a global recession and heightened geopolitical tension in Asia, the developments in 2023 are equally uncertain, even without considering that there may be future black swan events.
Against this backdrop, why would anybody want to venture a guess about what might happen over the next 12 months? We do. We think it makes sense to do this because it forces us to think about the future in a structured fashion and it helps us organize our thoughts about the key market drivers for 2023. Some, most, or all our takes could be wrong (we review them at the end of the year), but it is a useful exercise. So, what are the five key tanker market drivers for 2023?To read the full opinion, please fill out the form.
