BIMCO has issued its tanker Shipping Market Overview & Outlook August 2026 taking a look at the impact of ongoing oil export disruptions.
According to Niels Rasmussen, Chief Shipping Analyst at BIMCO, tanker markets are facing mounting pressure as export disruptions continue to reduce seaborne volumes, while declining oil and product stocks increase the risk of higher oil prices, weaker economic growth and lower tanker demand
Although the Memorandum of Understanding (MoU) signed by the US and Iran on 17 June briefly raised hopes of a reopening of the Strait of Hormuz, negotiations have stalled and safe passage through the strait remains far from assured. As uncertainty persists, we continue to present two outlook scenarios: one where conditions gradually normalise during the fourth quarter of 2026 (“SoH open”) and one where current disruptions continue for the remainder of 2026 and throughout 2027 (“SoH closed”).
Year-to-date oil and heavy-product export volumes have fallen 5.7% year-on-year while clean-product export volumes have declined 11.2%. Despite this, product tanker tonne mile demand has increased slightly year-to-date as LR2s have captured more crude oil and heavy-product volumes.
Persian Gulf exports remain well below previous levels, Saudi Arabia’s Red Sea exports have fallen under the weight of the Houthis’ embargo and Russian exports have increasingly been affected by attacks on refineries, oil infrastructure and shipping. Together, these developments threaten tanker demand.
Source : https://safety4sea.com/bimco-prolonged-oil-export-disruptions-threaten-tanker-demand/
