London pools player Tankers International expects VLCCs to enjoy a big turning point this year as supply and demand indicators turn green.
Spot market demand for the big tankers ended 2024 around 5% below 2023 levels, but the fundamentals for 2025 suggest a more optimistic outlook, according to Mette Frederiksen, head of research & insight.
Non-Opec+ supply is projected to grow strongly, while geopolitical challenges remain a persistent factor, contributing to inefficiencies and supporting tonne-mile demand, she believes.
