Euronav believes the crude tanker market should follow the lead of the gas and chemicals sectors and introduce a single inspectorate.

The New York-listed owner made the call amid the belief strong demand dynamics over the next three to five years will result in the crude spot market being supply driven.

Euronav’s annual report said greater clarity over the number of vessels available would strengthen the hand of owners at a time when the global crude fleet is smaller than it appears.