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Tanker market to take 2-3 months to recalibrate following Ukraine invasion: executive

The oil tanker industry will see a return to higher activity and longer average distances once the sector reorganizes trade routes as a result of Russia’s invasion of Ukraine but greater clarity will take at least two months, the CEO of tanker firm Euronav said March 29. Russia’s crude oil exports typically amount to about …

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Baltic index down for fifth session as panamax, supramax rates retreat

The Baltic Exchange’s dry bulk sea freight index extended losses for a fifth consecutive session on Wednesday, weighed down by lower rates for panamax and supramax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, dipped 48 points, or about 2%, to 2,369 points. The panamax index dipped …

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