OIL tankers are enjoying a surge in revenue as sanctions triggered by Russo-Ukrainian War are redrawing the global trade in oil, reports Bloomberg.
Cargoes that were transported across the Baltic Sea to reach the North Sea port of Rotterdam now must sail to India and China, twice or three times the distance.
Europe, for decades the top buyer of Russian oil, is banning purchases from December. Those cargoes are instead flowing out to Asia. The result is ships sailing thousands of miles, and stoking demand still further.
'I can
Cargoes that were transported across the Baltic Sea to reach the North Sea port of Rotterdam now must sail to India and China, twice or three times the distance.
Europe, for decades the top buyer of Russian oil, is banning purchases from December. Those cargoes are instead flowing out to Asia. The result is ships sailing thousands of miles, and stoking demand still further.
'I can
