Nigeria caused a stir in the sector by closing out the tankers amid limited explanation, with owner’s association Intertanko leading the protests and noting some of the ships locked out had never visited the country.
Noah Parquette, JP Morgan’s shipping analyst, said: “Regardless, if the ban holds we believe this could have a positive effect on the tanker market, as the ban would artificially reduce local supply off West Africa and decrease trading efficiencies, effectively lowering the overall supply potential of the fleet.”
Nordic
