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Ukraine crisis Red Sea Risk Tankers and Gas

Russia-Ukraine peace prospects put pressure on product tanker sentiment

  • Shares of Scorpio Tankers and Ardmore Shipping fell 7% on Thursday
  • Product tankers face two theoretical tonne-mile reversals: an eventual end to the Red Sea closure and a return (at least partially) to pre-Russia-Ukraine war trading routes
  • Spot rates for product tankers are down over 50% year on year despite support from the Russia-Ukraine war and Red Sea crisis

  • Analysis

Product tanker tonne-miles have benefited from both rerouting of cargoes due to the Russia-Ukraine war and diversions around the Red Sea. What happens to rates if both of these geopolitical tailwinds diminish?

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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