Shipowners Rush for Tankers to Move Russian Oil This Winter
- Sales of ice-class tankers have surged in recent months
- Russian cargoes to bypass Europe once EU sanctions kick-in
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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, roughly five times the amount invested a year earlier, according to E.A. Gibson Shipbrokers Ltd. in London.