Frontline forecasts the re-entry of Libya into oil markets boosting suezmax business as it said oil demand could be firmer than expected.
Interim chief executive Lars Barstad told analysts that the fourth-quarter tanker markets remained potentially volatile and are dependent on increased demand as the shielding effect of storage wound down.
“Demand for tankers is still capped by the Opec caps, but we find it extremely encouraging to see oil prices perform strongly as the volumes offered increase significantly, particularly by the Libyan exports that resumed in October,” he said.
