Canada’s Teekay Corp has come out with a bullish forecast for tanker rates to 2026, downplaying the effects of a recent rise in newbuilding orders.
Director of research Christian Waldegrave noted very firm rates in the first three months of 2023, with every chance this will continue long-term.
The market was supported by “robust” long-haul crude oil exports from Russia to Asia and an increase in Atlantic-to-Pacific oil movements as US shipments reached record highs, he said.
