August 12, 2022 [Reuters] – The European Union’s ban on Russian fuel imports is likely to actually increase the world’s need for oil tankers, according to vessel owner Torm A/S.
Seaborne arrivals of crude from Russia into the EU will be outlawed from early December, and imports of diesel, jet fuel and other oil products will be banned a couple of months after. That means the region will have to bring in replacement supplies from farther away, while Russian barrels will also have to find new homes.
10,390 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data