The long and short-term prospects of the tanker sector will be affected by decisions taken this week at international conferences. Last Monday saw the start of the latest climate change talks at the United Nations, while a new Opec ministerial summit will begin on Thursday.

Oil transportation will fall over the next decades if the UN conference reaches an agreement to cut carbon use.

Crude movements will slump immediately if Opec tightens the production targets that Saudi Arabia has been arguing for.