If you were asked to consider the mid- to long-term outlook for the shipping industry based on what has happened over the last six months or so, you might think all is rosy.  The cost of bunker fuel has come down, in line with the continuing fall in the price of crude oil (which is down by more than 50% since June), while value-seeking oil buyers in the Far East are still active enough to keep tankers busy and tanker operators happy.

The US government made its new methane emissions goal public this month, stipulating that by 2025, emissions from the oil and gas sector are to be cut to 40 to 45 per cent of 2012 levels.