International Seaways sees rates build without lifting Russian cargoes

New York-listed tanker owner International Seaways has not loaded cargoes at any Russian port since the invasion of Ukraine.

But the company sees both short-term and longer-term rates advances resulting from the crisis.

“We have not booked any fresh cargoes loading any Russian port” since the 24 February invasion, said chief executive Lois Zabrocky in response to a question from Jefferies lead shipping analyst Randy Giveans.