Oil traders steer away from long-term tanker charters amid Trump uncertainty

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Financial Times 14h ago

Oil traders steer away from long-term tanker charters amid Trump uncertainty - Financial Times

Quick Summary:

Skov’s comments come after Denmark’s Norden, a large operator of tankers and dry-bulk carriers, highlighted the uncertainty facing the sector by predicting net profits for 2025 of anything between $20mn and $100mn.

Those include issues around attacks by Yemen’s Houthis on ships in the Red Sea, which have driven up shipping costs by forcing vessels to take longer routes, and the war in Ukraine.

However, the chances of a return to the Red Sea increased after the Houthis last month said they would scale back their attacks following the ceasefire deal in Gaza.“Any major developments there would have a big impact on freight rates,” Olivi said of the Red Sea.“A lot can happen in the next three to six months.