Analysts have welcomed a lifting of sanctions against Iran as a positive development for the crude tanker market.
The move frees up the movement of Iranian cargo, a factor expected to outweigh the return of one of the world’s largest and most valuable VLCC fleets to the international market.
Nicolay Dyvik, OIyvind Berle and Petter Haugen DNB Markets said in a report today: “The Iran sanctions being lifted is positive to crude tank market, leaving 2016 as a year with significant OPEC supply growth in combination with non-OPEC supply decreasing, in combination with continued global growth in oil demand.”
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