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One in ten oil tankers globally gets effected by US sanctions on Russia
(MENAFN) US sanctions imposed on Russian oil shipments are affecting about 10% of the global oil tanker fleet, leaving numerous vessels unable to dock at major ports worldwide, according to ship tracking data reviewed by Reuters. The sanctions, announced on January 10, aim to reduce Moscow’s revenue from oil exports.
At least 65 tankers are currently anchored off the coasts of China, Russia, and other significant locations, unable to enter ports. Five ships are stationed near Chinese ports, seven near Singapore, and others in the Baltic Sea and Far East, as well as around Iranian ports and the Suez Canal, further disrupting global trade.
The sanctions target Russian oil companies Gazprom Neft and Surgutneftegaz, and also affect 183 vessels that previously transported Russian crude. These measures, in addition to earlier restrictions, have reduced the availability of vessels, tightening oil trade flows and driving up daily earnings for supertankers, which increased by over 10% to $26,000 on Monday.
The sanctions are also reshaping global trade patterns. Increased demand for non-sanctioned tankers, particularly for exports to China and India, is impacting trade flows, according to industry analysts. Oil prices have seen slight declines but remain near four-month highs, with market attention focused on the ongoing effects of the sanctions.
At least 65 tankers are currently anchored off the coasts of China, Russia, and other significant locations, unable to enter ports. Five ships are stationed near Chinese ports, seven near Singapore, and others in the Baltic Sea and Far East, as well as around Iranian ports and the Suez Canal, further disrupting global trade.
The sanctions target Russian oil companies Gazprom Neft and Surgutneftegaz, and also affect 183 vessels that previously transported Russian crude. These measures, in addition to earlier restrictions, have reduced the availability of vessels, tightening oil trade flows and driving up daily earnings for supertankers, which increased by over 10% to $26,000 on Monday.
The sanctions are also reshaping global trade patterns. Increased demand for non-sanctioned tankers, particularly for exports to China and India, is impacting trade flows, according to industry analysts. Oil prices have seen slight declines but remain near four-month highs, with market attention focused on the ongoing effects of the sanctions.
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