Tanker freight rates could double in 2023: Euronav official
Inflation and increasing distances to transport oil arising from sanctions on Russian barrels could contribute to a doubling of freight costs in 2023, Rustin Edwards, head of fuel procurement at tanker firm Euronav NV, said at an industry event Jan. 11. Time charter equivalent rates are currently at around $33,000/day in freight forward markets, having surged since the second quarter,…