Torm's CEO: Import ban on Russian oil may increase tonne-mile and rates
The US decision of an import ban on Russian oil and gas may cause tanker operators to sail longer, potentially increasing freight rates, assesses Torm CEO Jacob Meldgaard. Torm competitor Norden doesn’t predict higher freight rates.
The US and UK decision to implement a ban on imports of oil and gas from Russia may change transport patterns for product tanker and make freight rates soar, says Torm Chief Executive Jacob Meldgaard to ShippingWatch.
The outlook for the container market looks somewhat more gloomy in the coming time, estimates French CMA CGM. However, the container shipping company still recorded growth on top and bottom lines in third quarter.