Looking Ahead

Key tanker market developments for 2024

This is the second year of our forecasting series. Last week we discussed how we did with respect to our 2023 predictions. In this issue we will stick our neck out again and discuss several trends/developments that we expect for 2024.

• VLCC newbuilding orders will take off in 2024.

• (Geo) Politics will dominate the tanker market in 2024.

• Tanker recycling will pick up in 2024 as some vessels of the “dark fleet” will start to be phased out

• OPEC+ will reverse some of their voluntary production cut

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