As oil prices continue to hover at around $80 per barrel, fears are growing that energy majors will cut their capital investment in the development of new oilfields. While this is sending shivers down the spines of offshore service providers, tanker companies linked to oil majors are also expected to suffer from such spending cuts.
Mohammed Al-Otaibi, vice-chief executive of finance at Bahri Shipping, has raised concerns over the effect of low oil prices on the large Middle Eastern tanker fleets that are closely affiliated with the region’s oil majors.
Bahri
