Tanker owners remain sanguine about the crude market as demand shows no signs of weakening this year.

Speaking on a panel at the Capital Link International Shipping Forum in New York, Euronav chief executive Paddy Rodgers said crude at $100 per barrel destroyed demand. But with crude oil at $40 per barrel, the global seaborne oil trade has been energised, leading to tight vessel capacity and strength in freight rates.

“Crude