UK shipbroker Gibsons has some potential good news for VLCC owners as Russian export volumes look set to fall.
A possible drop in crude and product cargoes has been attributed to production cuts, Ukrainian attacks on refineries and shipowners’ increasing reluctance to handle Russian oil due to sanctions pressure.
If Russian export volumes fall, buyers in India and China will be forced to seek replacement barrels from the Middle East and the Atlantic, the London shop said, which may lend support to the VLCC sector.
