Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Analysis Featured News

Oil Exports From Russia’s Busiest Port Unencumbered by Sanctions

post-img

Crude-oil exports from Russia’s main Pacific terminal remain robust as shippers and traders — yet again — work around a fresh batch of curbs from the US, enlisting a new roster of vessels to keep barrels moving.

Between Jan. 30 and Feb. 16, none of the sixteen tankers that loaded ESPO crude from the eastern port of Kozmino was on the US sanctions list, after Washington broadened curbs early last month. Half of them are new to handling the local ESPO grade, data show.

Oil traders are closely tracking Russia’s ability to keep shipping crude to global markets, with direct talks between the Trump administration and Moscow in Saudi Arabia over a potential settlement in Ukraine raising questions over whether sanctions may be loosened. Flows from Iran — another US target — have proved to be similarly resilient, despite renewed threats to clamp down.

Since late-January, many of the vessels that were new to the ESPO trade sailed under so-called flags of convenience, including Panama, the Cook Islands, Sierra Leone and Djibouti, data show. All but one of the ESPO cargoes were bound for China — popular destinations include Dongying, Huizhou and Dongjiakou. Most of the ships are owned by companies registered in Shanghai, Hong Kong and Seychelles, according to data from Equasis.

Freight rates for the Kozmino-to-Asia route did spike after the latest US sanctions — among the final salvos from the Biden administration — then faded. At present, the fee is about $5 million for the three- to five-day voyage to China, accoding to shipbrokers and a Chinese private refiner. That’s up from $1.5 million before Jan. 10, but down from a peak.

Related Post