Teekay Marine Markets -Tanker Update, December 2018
Tanker rates are exiting 2018 on a high note, with rates at 2-3 year highs across all segments. However, OPEC supply cuts from Jan’19 may introduce some rate volatility during the early part of next year. The outlook for 2H-2019 and 2020 appears firm due to strong underlying demand, an expected increase in long-haul US crude oil exports, the positive impact of IMO 2020, and continued low tanker fleet growth.
Source: Teekay Corporation