The crude tanker market could be set for a positive future, as ton-mile demand is about to increase. In its latest weekly report, shipbroker Gibson said that “earlier this month the IEA released its monthly oil report, offering for the first time their analysis of how oil markets could shape up in 2025. The agency expects global oil demand to grow by 1.1 mbd next year, just marginally below 1.2 mbd expected in 2024. Despite the accelerating uptake of clean energy technologies, projected growth in demand in 2025 is reasonably robust, in line with average growth rates seen since 2011. Demand growth will continue to be led by non-OECD countries; however, China’s share of total increase will decline significantly due to a rapid domestic uptake of electric vehicles and high-speed rail as the country’s post-lockdown rebound dwindles. China’s demand is projected to account for just 27% of non-OECD demand growth next year, compared to 43% in 2024 and 80% last year. Strong demand growth next year is also seen in India, other developing Asian economies and the Middle East. Total OECD demand will see just a marginal drop, with the decline in European consumption decelerating notably as economic conditions improve”.
Source: Gibson Shipbrokers
According to Gibson, “on the…