U.S. and EU sanctions on Russia’s dark fleet and Iran are removing tankers from circulation, driving up VLCC demand.

Russia has been using its shadow fleet of aging vessels to navigate around western sanctions — and keep cash pouring in.

“In 2024, new crude oil tanker deliveries dropped to a 36-year ... contracting of new ships rebounded in 2023 and 2024. The order book/fleet ratio has therefore climbed from a low of 2.8% ...

CAIRO, Feb 3 (Reuters) - Liberian-flagged crude oil tanker Chrysalis, which was attacked by Yemen's Houthis last year, sailed through the Red Sea this week, the Suez Canal said on Monday ...

US Sanctions Strand Iran, Russia Oil on Tankers, Driving up Crude Costs By Siyi Liu and Chen Aizhu SINGAPORE (Reuters) - The amount of Russian and Iranian oil held on ships has hit multi-month ...

Indian refiners are reconfiguring their supply chains, including changing trading partners and insurers, to continue ...