Experts’ warnings that the number of tankers was insufficient were also confirmed by the events in the Red Sea as a result of the Houthis’ actions. This was reported by Bloomberg.
Their attacks on commercial ships led to major changes in oil transportation routes.
However, the lack of new capacity was noticed after the owners began to actively bypass the southern part of the Red Sea. There was an increase in freight rates and an increase in flight times. Rates have been kept in check last year due to OPEC+ oil production cuts, and the sector’s long-term prospects have become increasingly blurred due to the energy transition.
At the same time, the fleet’s supply reached a historical minimum; Only two ships will be replenished in 2024, the lowest figure in almost 40 years.
“The impact of deviations in the transportation of oil and petroleum products by tankers is noticed every day,” Euronav president Alexander Saveris said of the situation.
According to him, in an environment where the fleet is aging and new orders are limited, the prospects of tanker owners in the near future are quite positive.
Before this, G7 countries is planning Tighten the price limit on Russian oil.
Previously, global oil supply increased sharply in January decreased.