“In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing distances for EU tanker imports. Now, attacks on ships in the Red Sea area have caused average sailing distances to increase a further 16% and tonne mile demand to increase 12% despite falling volumes,” stated Niels Rasmussen, Chief Shipping Analyst at BIMCO.
During the first quarter of 2024, tanker import volumes to the European Union fell 4% year-on-year due to a 1%...
https://container-news.com/eu-tanker-import-tonne-mile-demand-up-12-as-ships-avoid-red-sea-area/