It Looks Like A Tanker Supercycle Is Starting. AIA Weekly Report 9-17-22.

Due to sanctions placed on Russia by the EU, oil and refined products now need to be sourced from places more distant from the EU than before. This is causing more ton-miles for the existing tanker fleet.  This is also causing rates to skyrocket as there are not enough tankers to move all this product further distances. It appears, that for as long as sanctions are in place, we are looking at a time of elevated rates for tankers.