Long delivery times see owners turning to older vessels
Imabari Shipbuilding's Saijo Shipyard will expand its facilities in Japan with assistance from a government-backed fund. (Photo obtained by Nikkei)
SHOKO KUGAI
October 16, 2026 01:56 JST
TOKYO -- Prices for used oil tankers are soaring on high demand for vessels, as the military conflict between the U.S. and Iran forces shipping lines to bypass the Strait of Hormuz.