Prices for older tankers surge as new owners build Russia fleets

Prices for ageing tankers are rocketing with buyers trying to build fleets to carry Russian crude, Gibson Shipbrokers reported on Friday.

Fifteen-year-old Suezmaxes have jumped 58.5% in price this year, while 10-year-old VLCCs have increased by 20.5%, the London firm said.

“This has been driven by increased enquiry from mostly Middle Eastern, Russian and Asian buyers, looking to build a fleet of older tankers to carry Russian crude,” Gibson said in its weekly tanker report.

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