With global trade being upended by sanctions on Russia while Asia and the Middle East add refining capacity at the expense of the U.S. and Europe, orders for fuel tankers have soared so far this year to the highest in a decade. So far into 2023, a total of 38 mid-range fuel tankers have been ordered, the highest number since 2013, per data from shipbroker Braemar cited by Bloomberg. The new global trade order after the EU and G7 embargoes and price caps on Russian oil products, as well as the rise in Asian and Middle Eastern…
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