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Tanker carriers could hit oil peak earlier than expected

The demand for oil could peak before many expect, say several analysts. They advise tanker carriers to take it seriously when setting out future strategy, while there is some indication that at least one carrier is already in the throes of a transition.

Photo: Nordic American Tankers
BY KATRINE GRØNVALD RAUN, SHIPPINGWATCH

Vessels from Scorpio Tankers, Euronav, and Torm will have less oil to transport in coming years.

As the global economy shifts away from black oil to renewables, and consumers increasingly opt for electric or battery-powered cars, tanker carriers around the world will need to adjust to the new reality when hashing out their future strategy.

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