Newbuilding markets have been much discussed, going on for a number of years, as successive markets have seen a significant number of replacement tonnage being ordered, notably LNG tankers and container vessels, whilst other markets, especially crude tankers, had seen orders dry up to negligible amounts.
With US Strategic Petroleum Reserves currently sitting at multi-decade lows, how could a restocking impact the tanker market?
In 2018, the government bought the troubled Trans Mountain pipeline project from Kinder Morgan with an intention to complete it and sell it after its completion.
In the tanker market, much of the column inches and presentation time has rightly been spent analysing and explaining the huge impacts that the Russian invasion of Ukraine, and resultant policy changes and trade dislocations, have had on the market.
