Leon Patitsas, chief executive of Atlas Maritime, was positive when asked during a panel discussion which conflicts kept him up at night.
He explained: “Whenever you have geopolitical conflict the price of oil goes up. If the price goes up substantially people will want to buy more oil and fill their strategic reserves.
“If that happens the cost of shipping is going to rise and it might be positive both for the offshore industry, because it becomes more profitable to extract oil, and it will be positive for the tanker industry because contango might form and people may want to store more oil.”
Patitsas
