The emergence of new tanker market players.
Since the start of the conflict between Ukraine and Russia, a new breed of Tanker owners has emerged. Demand for Tankers increased, and this has caused Tanker freight rates to rise following a long period of stagnation, enticing new players to enter the market.
Sanctions on Russian crude oil and clean petroleum products came into force in December 2022 and February 2023 respectively. As a result, this has curbed the trade in Russian crude oil to the...
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