The only thing crude tanker owners seem sure of is that oil trading patterns will shift and VLCCs are hurting as Russia's invasion of Ukraine stretches into a second month.
Describing the situation as “fluid”, “dynamic” and “in a state of flux”, shipowners on the crude tanker panel at Capital Link’s digital International Shipping Forum on Monday described a market where Russian oil was sailing past European ports en route to India and Asia all at the expense of their largest ships.
