Geopolitical tensions and disruptions in key shipping routes, such as the Red Sea, can significantly impact tanker rates and operational costs.

Global demand for refined petroleum products and chemicals directly influences the volume of cargo transported, affecting charter rates and fleet utilization for product and chemical tankers.

The supply and demand dynamics within the tanker market, including new vessel deliveries and the scrapping of older tonnage, play a crucial role in determining freight rates and the company's profitability.