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.