Product tanker rates could triple as shipowners reap the benefits of a major reshuffling of Russian oil trades, according to Ardmore CEO Anthony Gurnee.
Major market players have already fixed ships for more than a $100,000-a-day in recent times, hitting highs not seen since the price war between Russia and Saudi Arabia in early 2020.
Rates have the potential to go significantly higher when the EU imposes an import ban on Russian crude products from February 2023, according to leading product tanker industry figures.
