Danish Ship Finance (DSF) believes older tankers may be kept in service for another six to eight years beyond their usual scrapping age.
This is due to a combination of increasing demand and limited fleet growth.
S&P Global currently projects global oil demand to increase by a little over 11m barrels per day (bpd) to 111m bpd from 2022 to 2030, unless there is a deep or lasting recession.
