TradeWinds News: Product tanker good times set to run until at least late 2024, says Poten

July 17, 2023

Product tanker owners look set to enjoy healthy freight rates for at least another 18 months, according to a top US shipbroker. Poten & Partners said tonne-mile demand and rates for product tankers will “remain strong at least through 2024” based on the current geopolitical and orderbook situation.

“There is no sign that a resolution to the conflict in Ukraine is close and even when the parties reach a cease-fire and stop the hostilities, we don’t expect the world to revert to the pre-war trading patterns for a while,” the broker said.

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