New Tankers Join Russian Oil Trade in Rare Move as Rates Jump

Soaring freight rates have enticed some shipowners to use new tankers to transport Russian oil, a trade usually carried out by older vessels that are close to — and occasionally...

By Weilun Soon · Bloomberg Markets

Soaring freight rates have enticed some shipowners to use new tankers to transport Russian oil, a trade usually carried out by older vessels that are close to — and occasionally over — their usual lifespan.