www.bloomberg.com
Soaring freight rates are motivating shipowners to deploy new tankers for Russian oil transport, a trade historically handled by older vessels nearing or exceeding their operational lifespans. This strategic shift capitalizes on high market rates, allowing owners to earn substantial returns on modern assets despite the risks associated with navigating sanctions. Consequently, vessels that would typically transport oil from regions like the Middle East are being rerouted to the Baltic and Black Seas to facilitate Russian crude exports.
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