Tight market: A tanker loads liquefied natural gas from the Sakhalin-2 project in the port of Prigorodnoye in Russia. Companies which intend to facilitate Russian exports this winter will need ice-class ships. — AP
NEW YORK: Oil tanker owners are snapping up vessels that can haul cargoes in icy seas, a development that could help Moscow overcome the threat of a shipping bottleneck this winter.
About US$1bil (RM4.5bil) was spent on secondhand ice-class tankers during May-August, roughly five times the amount invested a year earlier, according to E A Gibson Shipbrokers Ltd in London.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
