And what will that do for tanker demand?
The US Transportation Security Administration (TSA) says that it expects record levels of arrivals into the US for Independence Day this year. It estimates that 2.82 million travellers arrived in the US last Friday and that 17.7 million will arrive over the week starting last Friday. The previous peak Independence Day arrival number was 2.79 million in 2019 before the pandemic.
“Despite the uncertain economic signals, demand for air travel continues to be strong across the globe and particularly in the Asia-Pacific region. The industry is now just about 15% below 2019 levels of demand and that gap is narrowing each month,” said Willie Walsh, IATA’s Director General.
Jet fuel demand in the US looks like it may recover its previous peak of 1.74 Mn bpd in 2019 either this year or next year. In its latest report, the IEA says that jet fuel use “is unlikely to surpass its 2019 peak until 2027, when demand will exceed 7.2 Mn bpd.” The IEA notes that “environmental regulations and commitments, combined with changing consumer behaviour, will also weigh on demand.”
Read more here.
Sign up for September
This year’s Online Certificate in Shipping Markets Analysis, led by Mark Williams and hosted by Lloyd’s Maritime Academy, starts on 6 September. Build your skills and learn techniques to analyse, forecast and report shipping markets.
Find out more and sign up here.
MEPC 80
As MEPC 80 kicks off at the IMO in London this week, Mark Williams and colleagues at ship.energy, will cover the proceedings and outcome. It’s FREE to sign up and you can also listen to Mark discuss the prospects for MEPC 80 with his recent podcast guest Valentina Keys here.
We’re proud of our maritime training feedback
“Great presenter“…”very engaging“…”very relevant to our daily work“…”practical cases and workshops” – Just a few of the comments we’ve had recently from students on our training courses. Click here to find out more about our training, or contact info@shippingstrategy.com
