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Around 20% of Global VLCC Fleet Moving Sanctioned Oil: TankerTrackers

OIL

One in five of the world’s global VLCC fleet is involved in moving sanctioned oil according to Tanker Trackers – increasing on the back of Russian sanctions.

  • It has counted 174 VLCCs out of the 900-strong fleet are currently breaking rules put in place by the US and the European Union. The other main sanctioned volumes are moving from Iran and Venezuela.
  • China’s increasing demand for oil has pushed VLCC rates near six-digit territory over the past week – while prices for second hand tonnage have doubled over the past year.
  • For suezmaxes, TankerTrackers counts 15.2% of the fleet is moving sanctioned oil, and for aframaxes it counts 11.3%.
Energy BulletsCommodities
Energy BulletsCommodities

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