Global tanker freight seen subdued for rest of 2024, key support priced in

Global tanker freight rates are expected to be subdued for the rest of 2024 because of slower growth in China’s oil consumption and overall oil trade even as OPEC+ has delayed its supply cuts, several shipping brokers, analysts and charterers said Oct. 10. Most participants at the Singapore International Bunkering Conference, or SIBCON, and other shipping sources described “uncertainty as…Global tanker freight rates are expected to be subdued for the rest of 2024 because of slower growth in China’s oil consumption and overall oil trade even as OPEC+ has delayed its supply cuts, several shipping brokers, analysts and charterers said Oct. 10. Most participants at the Singapore International Bunkering Conference, or SIBCON, and other shipping sources described “uncertainty as…Read More