Volatile tanker freight rates linked to China’s slowdown 

At the Tanker Shipping & Trade Conference in London, 22 October 2024, Gibson Shipbrokers director Richard Matthews analysed the recent volatility in tanker freight rates, linking it to China’s economic deceleration and seasonal refinery trends.

"Typically, we see a seasonal decline as we go through the summer period," he noted. "This year, it feels different… there is definitely a change in sentiment in the markets," he added, citing fundamentals such as China’s slowing economy, which impacts demand for crude oil and products.

Mr Matthews also pointed to investment prospects in VLCCs and Handysize tankers, given shifting trade flows and port constraints.