Russia could struggle with a shortage of product tankers in the coming months as a short-haul business switches to serving customers far beyond Europe, according to trading giant Trafigura.
Ben Luckock, Trafigura’s co-head of oil trading, said the multinational estimated that about 200 tankers, or 7% of the global fleet, had switched from mainstream markets to hauling Russian oil.
The EU’s ban on imported seaborne Russian oil products from Sunday meant an increase in tonne miles and vessels taking a lot longer to deliver and collect Russian product, he told Bloomberg Television.
