Investors are gambling on a long-time economic boost for shipping following the change to trade flows sparked by Russia’s invasion of Ukraine.
The European Union has rethought its energy security policy and is cutting oil imports from Russia in favour of buying from further afield, in a boost to the tanker sector, the Marine Money Ship Finance Forum in London heard.
The EU is set to introduce its second wave of bans on Russian seaborne imports from 5 February for refined oil products, following a similar embargo on crude imports two months earlier.
