Wars involving oil producers traditionally cause tanker rates to spike. A month into the Russia-Ukraine war, rates for most crude tankers remain abysmally low. Rates for product tanker rates are up but not exceptionally high. “The immediate knee-jerk reaction was: Disruptions create strength in the market,” said Evercore ISI analyst Jon Chappell. “We saw that …
The post Why Russia-Ukraine war has not ignited crude tanker rates (yet) first appeared on Hellenic Shipping News Worldwide.