Tankers keep chugging along as Chinese demand, geopolitics weigh on sentiment

As tanker rates move sideways, Breakwave Advisors is keeping a neutral stance on the sector.

The US asset manager behind a New York Stock Exchange-listed tanker exchange-traded fund said in its twice-monthly report that VLCCs were unable to capitalise on rising activity last week, leading to a nervy mood in the market exacerbated by concerns on Chinese crude demand.

Unregistered and cleanskin tankers keep Russian oil flowing as sanctions escalate, researchers say

Read more

“This has dampened confidence in sustained freight rate gains, as uncertainty over future crude demand growth weighs on long-haul tanker prospects,” Breakwave said.