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.

by DAG HOLMSTAD

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.

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