Europe still importing lots of Russian crude right before launch of embargo
With less than 14 days to the EU banning seaborne imports of Russian crude oil, Europe is still receiving 15-20 percent of its seaborne crude from Russia. New market patterns are especially beneficial to suezmax and VLCCs.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.