A fleet of bulk carriers previously sold for scrap have been pressed into service to ship Russian coal, according to John Wobensmith.
The CEO of New York-listed Genco Shipping & Trading was asked about shipping’s shadow fleet on CNBC’s Squawk Box show.
On the tanker side, he said, there are “easily 100 ships that have been scooped up by Russian companies over the last year or so to move that oil”.
