Mercuria shipping head says fuel shortages could idle 10% of global fleet

AI Summary

Mercuria’s global freight head Larry Johnson warns of a potential fuel shortage crisis that could immobilize 10% of the global shipping fleet. The crisis follows the Middle East war’s impact on diesel and jet fuel exports.

The shipping sector is fast approaching a fuel crisis that could paralyze a tenth of the global fleet, Larry Johnson, global head of freight at commodities trading house Mercuria, said in an interview. Since the Middle East war erupted, markets have been preoccupied with potential shortfalls in the diesel and jet fuel traditionally exported in ...