Just as the tanker sector was finally revving up after years in the doldrums, the time has come to cut back on the power.

With Russia’s invasion of Ukraine predicted to supercharge the economics of oil trading next year, the tanker trade is debating whether 2023 will become known as the year of fast profit, slow steaming — or both.

“It’s a wake-up call,” says Sadan Kaptanoglu, head of the family-led Turkish shipping conglomerate. “The transformation is such a huge one.”