Russia Sanctions Spur Buying Frenzy for Ice-Breaking Tankers
- Cost of ice-class Aframax vessels has doubled, shipbrokers say
- EU set to curb shipping, insuring, financing of Russia cargoes
Close to 130 ice-class Aframaxes are available across the world.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
The cost of oil tankers that can navigate icy waters has surged ahead of looming European Union sanctions on the export of Russian crude.
Some ice-class Aframax vessels have recently been sold at between $31 million and $34 million, double the price compared with a year earlier, said shipbrokers. The bids for tankers have been aggressive and most buyers are preferring to keep their identities secret, they added.