Clean product tanker rates soared last week after the European Union and G-7 nations targeted Russia’s petroleum sales. Restrictions on Russian crude exports began in early December. The sanctions have been a ploy by Western […]
By Tsvetana Paraskova of OilPrice.com Surging tanker rates are weighing on the crude trade two weeks ahead of the biggest uncertainty for physical oil flows this year–the EU embargo on Russian crude oil imports and […]
Despite high LNG shipping rates, a few prompt-delivery cargoes in the Atlantic Basin have been diverted to the Pacific Basin ahead of winter’s peak in Northeast Asia, reflecting high storage levels at European terminals, multiple […]
Despite Western sanctions on Russian oil, Russia has been able to export a lot of its oil to other buyers, notably China and Russia. A provision in the upcoming sixth sanctions package will soon prohibit […]
In a single day, South Korean shipbuilder Samsung Heavy Industries (SHI) received orders for the construction of a total of fourteen liquefied natural gas (LNG) carriers. On 21 June 2022, SHI won an order from […]
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