The International Energy Agency (IEA) has equities analysts feeling bullish about tankers.
The Paris-based organisation’s annual report published on Wednesday said significant oil refining capacity will be added in the east, while most crude production will come from the west — a positive sign for tonne mile demand, Fearnley Securities‘ Oystein Vaagen said.
“The distance side of the tonne-mile equation is set to grow further and sets up a very bullish backdrop for the tanker space,” he said in a note published on Thursday.
