BW Renewables managing director Erik Stromso had some sobering words for the tanker industry on Tuesday: the switch to renewable energies and alternative fuels will reduce the demand for conventional tanker tonnage.
Speaking at Marine Money’s Singapore Ship Finance Forum, he said that on a positive note, there will be opportunities to develop new sub-segments of energy shipping.
On the conventional tanker front, Stromso said that with about half of the world’s oil being used by the transportation sector, a strong movement to switch many modes of transport to renewable energies and alternative fuels is going to affect the tanker market, as there will...
