The United States (US) unilateral withdrawal from the Iran Nuclear Deal is unlikely to have any significant impact on the global crude oil trade and tonnage demand in the tanker market,as long as the deal is honored by the other signatories, and Saudi Arabia and other producers are willing to fill the possible shortage in global oil supply.
Recent opinion: 08 May 2018Tanker market anxiously waits for Trump to show cards on Iran
May 12 is the deadline for the US to decide whether or not to waive sanctions on Iran as part of the 2015 nuclear deal which allowed Tehran to resume oil exports in exchange for curbs on its nuclear program. Although there are more questions than answers at this stage, the re-imposition of sanctions would cause a significant tightening of global oil supply-demand balance.
Recent opinion: 02 May 2018Chinese teapots - a godsend for product tankers
China’s oil products’ exports have historically supported product tanker employment. The good news is that high crude oil import quotas allotted by Beijing, coupled with planned refinery capacity additions this year, signal that Chinese products’ exports will remain elevated and support MR and LR employment in 2018.
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