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Tanker Price Increase on Trade Route Changes

FREIGHT

Used fuel tanker prices have jumped up 60% over the last six months according to VesselsValue data.

  • Vessels are having to spend more time at sea on long haul routes with oil flows rebalancing due to trade restrictions on Russian oil. The rebalance has tightened the supply of tankers and lifted freight costs.
  • New tankers take up to three years to order so companies are looking to the used vessels to maximise current high prices.
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