Tanker Shipping Market Overview and Outlook for 2025

This report provides an overview and outlook of the tanker shipping market for the years 2025 and 2026. It outlines the anticipated supply and demand dynamics, forecasting a slight strengthening of the crude tanker supply/demand balance in 2025 while predicting a weakening for product tankers. The report details that crude tanker supply is expected to grow by 1.3% in 2025 and 2.1% in 2026, while product tanker supply growth is projected at 3.7% in 2025 and 7.3% in 2026. It also discusses the implications of potential OPEC+ production cuts and new US import tariffs on tanker demand. The International Energy Agency's (IEA) estimates for global oil demand growth are included, with expectations of increases of 0.9 mbpd in 2024 and 1.0 mbpd in 2025. The report highlights the impact of geopolitical factors, such as Houthi attacks and sanctions on Russian oil exports, on shipping routes and market conditions. Overall, the report emphasizes the complexities of the tanker shipping market amidst changing economic conditions and supply chain dynamics.