Oil demand drag takes toll on tankers, U.S. refiners | Hellenic Shipping News Worldwide

“2021 is bound to become a bad year for oil product tankers – more so, as the option to manage bits and pieces of your risk in the time charter market is slim,” said Peter Sand, chief shipping analyst with trade association BIMCO.

One U.S. refining executive said it did not plan to go back to chartering long-term vessels in the future to cut costs.

Oil demand drag takes toll on tankers, U.S. refiners | Hellenic Shipping News Worldwide