FEATURE: Longer voyages, aging fleet to boost global tanker freight despite OPEC+ output cuts
Longer voyages are likely to support global tanker freight in the second quarter of 2023 because of a prolonged Russia-Ukraine war, an aging fleet and shrinking newbuilding orderbook, but lower oil supply and concerns about an economic recession could cap those gains, market participants said April 10. A coalition of OPEC and other oil producers have announced voluntary crude output…