Business Maverick: Russia sanctions spur buying frenzy for ice-breaking tankers

Some ice-class Aframax vessels have recently been sold at between $31-million and $34-million, double the price compared with a year earlier, said shipbrokers. The bids for tankers have been aggressive and most buyers are preferring to keep their identities secret, they added.

The smaller Aframax-size tankers are most sought after because they can call at the Russian port of Primorsk, where the bulk of its flagshipis exported from. About 15 ice-class Aframaxes and Long Range-2 tankers have been sold since the start of the year, with most ships acquired by undisclosed buyers, shipbroking firm Braemar wrote in a report last month.

Russian currency (Ruble) is doing well and so their economy notwithstanding the anticipation of its rivals

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Aluminium heads for more supply chaos as Biden weighs Russia banA complete US ban on Russian aluminium threatens to upend a global market already reeling from multiple disruptions, throwing a spotlight on how China could fill any supply gap. USA has also banned some metal from China due to poor grade quality. Looks like Bidens foreign policy is biting him in the A.. I am not sure he has a foreign policy other than to piss off everyone.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Core US Inflation Rises to 40-Year High, Securing Big Fed HikeA closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out persistent inflation.
Source: dailymaverick - 🏆 3. / 84 Read more »