Watch: Houthi Drone Boat Destroyed by Armed Guards
A new video circulating online shows an alleged attack on the M/V Pumba in the Red Sea using an Uncrewed Surface Vessel (USV) seemingly loaded with explosives. The USV was...
Stock Photo: Garry2014 / Shutterstock
By Jack Wittels (Bloomberg) —
Oil tanker owners are snapping up vessels that can haul cargoes in icy seas, a development that could help Moscow overcome the threat of a shipping bottleneck this winter.
About $1 billion was spent on secondhand ice-class tankers during May-August, about five times the amount invested a year earlier, according to E.A. Gibson Shipbrokers Ltd. in London.
European Union sanctions are about to make Russia’s oil and fuel exports harder because the bloc, which is still a major buyer, will no longer be able to import most seaborne cargoes. The carriers may instead have to sail to destinations much further from the Baltic Sea — home to some of Russia’s top terminals — thereby stretching the ice-class fleet.
“Companies which intend to facilitate Russian exports this winter will need ice class ships,” said Richard Matthews, head of research at the shipbroker.
There were 42 second-hand ice class tanker sales during May-August, up from 12 in the same period a year earlier, Matthews said. Their combined transportation capacity was about 4 million deadweight tons, skewed mostly to crude oil.
The buyers are a mix of Chinese, Turkish and United Arab Emirates firms, Matthews said.
Some companies who already own ice-class carriers may be looking to sell if they don’t want to call at Russian ports this winter.
© 2022 Bloomberg L.P.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 107,379 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 107,379 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up