The disappearance of Russian fuel oil cargoes from the retail bunker market in Europe has to date had little impact (vis-a-vis other factors) as markets and players have adjusted to the new reality. "If this materialises, traditional Western export markets could see 'Middle East' gasoline competing with US and European supplies, perhaps even into the US itself despite the origin of the finished grades' original components," the broker said. The region could become a blending hub where Russian components are transformed into products for re-export across the world. Much of the product heading east is expected to end up in the Middle East. Prior to the Russia-Ukraine war, around half of the fuel oil cargoes going into the Amsterdam-Rotterdam-Antwerp market would be of Russian origin.But a year on from the outbreak of hostilities and that flow has all but disappeared as European Union sanctions have taken hold.īut according to a report by shipbroker Gibsons, changes in product tanker ownership have returned a fluidity to the oil markets that some players might not have thought possible as a flurry of sale-and-purchase deals has increased shippers' options. Rotterdam: all quiet on the Northwestern front.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |