BIMCO: Tanker Shipping Market Overview & Outlook
The unprecedented trade policy uncertainty following President Trump import tariff announcements have weakened the outlook for both the global economy and oil demand.“In 2025, we forecast a balanced development in the crude tanker market followed by a slight weakening in 2026. The product tanker market is expected to weaken during both 2025 and 2026 as deliveries from the large order book increases supply growth,” said Niels Rasmussen, Chief Shipping Analyst at BIMCO.The International Energy Agency (IEA) now expects that oil demand will increase by 0.7 million barrels per day (mbpd) in 2025.
Tanco adds $8.2 million to IA Port Investments
Tanco Terminals is constructing a $8.2 million expansion of its liquid tank farm at Ports of Indiana-Burns Harbor to support growth in Lake Michigan shipments. Tanco is a third-generation, family-owned business operated at the port since 1977.The company stores and performs value-added services for liquid cargoes, from petroleum to food-grade oils.As part of the expansion, Tanco is adding a sixth rail loading track, a new truck scale, three storage tanks – two with 36,000-barrel capacity and a third at 42…
