crude tanker shipping

Russian oil exports are still booming and EU is still reliant on Russia

Tanker shipping has already seen a big trade shift in the wake of Russia’s invasion of Ukraine. But it’s nothing compared to what will happen when the EU bans tanker cargoes from Russia.

New data from commodity analytics firm Kpler confirms that Russian seaborne petroleum exports remain historically high and the EU remains a major buyer.

The EU has made some progress in weaning itself from Russia. But it has a long way to go and time is short. The EU ban on seaborne crude imports begins on Dec. 5,...

https://www.freightwaves.com/news/russian-oil-exports-still-booming-eu-still-reliant-on-russia

How Hungary could stymie G-7 plan to cap Russia’s wartime windfall

a photo of Russia currency; oil - G-7 sanctions loom

Sanctions targeting Russian oil exports go into effect in just 10 weeks, on Dec. 5. From a practical perspective, sanctions come into play sooner than that. Tankers can take up to a month to reposition for cargo loadings. Refineries need to plan for deliveries well in advance.

The G-7 sanctions plan, which would cap Russian oil export prices, faces a big risk even before it gets off the ground: It hinges on the European Union changing its own sanctions policy and enacting its own price cap to...

https://www.freightwaves.com/news/how-hungary-could-stymie-g-7-plan-to-cap-russias-wartime-oil-windfall

G7’s grand plan to squeeze Russia oil windfall hinges on tanker shipping

a photo of tankers shipping in Russia

They say you can’t have your cake and eat it too. The G7 countries, led by the U.S., think they can. They want to keep Russian crude oil and refined products exports flowing so that fuel prices in their own countries don’t skyrocket, and they want to simultaneously slash Russia’s profits from its own exports.

Tanker shipping buy-in will be pivotal to success or failure. The G7 plan would cap the price of Russian exports and levy U.S. sanctions against companies that transport Russian petroleum...

https://www.freightwaves.com/news/g7-grand-plan-to-squeeze-russia-oil-windfall-hinges-on-tanker-shipping

LNG shipping rates top $100,000/day, oil tanker rates still rising

map showing location of LNG shipping carriers

In a typical year, winter demand in the Northern Hemisphere pumps up rates for tankers carrying crude oil, refined products and liquefied natural gas. As this summer comes to a close, tanker rates are already up to levels typically seen when snow is falling.

Six-figure LNG shipping rates

LNG shipping is being heavily impacted by the Ukraine-Russia war, which dramatically increased demand for shorter-haul voyages from the U.S. Gulf to Europe. A large share of U.S. LNG continues to flow to Europe,...

https://www.freightwaves.com/news/lng-shipping-rates-top-100000day-oil-tanker-rates-still-rising

Tanker shipping stocks pull away from the pack, hitting fresh highs

a photo of Wall Street; shipping stocks are seeing mixed fortunes

Shipping stocks are not considered “buy and hold” investments these days — for good reason. It’s all about timing. Case in point: Tanker stocks are now soaring after years mired in negative territory.

Fresh 52-week highs were hit Tuesday by Scorpio Tankers (NYSE: STNG), Ardmore Shipping (NYSE: ASC), Euronav (NYSE: EURN), DHT (NYSE: DHT), International Seaways (NYSE: INSW) and Teekay Tankers (NYSE: TNK).

Tankers stocks are up double digits year to date (YTD), in some cases triple digits. However,...

https://www.freightwaves.com/news/tanker-shipping-stocks-pull-away-from-the-pack-hit-fresh-highs

War effect on crude trade: Long-lasting and just beginning

photo of a crude oil tanker

Is the shift in global crude flows due to the Ukraine-Russia war a fleeting event or a more lasting, structural change?

At first, many market watchers and investors viewed it as short-lived. It now seems like something to count on for at least the medium term. More Russian crude will likely head to India and China for a longer period of time, and more Atlantic Basin and Middle East crude will head to Europe to replace Russian barrels.

“Oil supply chain disruptions related to Russia’s invasion of...

https://www.freightwaves.com/news/war-effect-on-crude-trade-long-lasting-and-just-beginning

US exports of crude oil and diesel are climbing even higher

A photo of a tanker off Texas. US exports of crude, diesel and gasoline are rising

At-the-pump prices for gasoline and diesel may be down from all-time peaks but they remain exceptionally high. Meanwhile, as domestic energy resources flow to the highest bidder, more U.S.-produced crude is being loaded on tankers bound for Europe, and more U.S.-refined diesel aboard ships headed to Latin America.

“Rising [diesel] exports shipments have drained domestic supply,” reported Argus on Monday.

Citing ship-movement data from Vortexa, Argus said that diesel exports averaged 1.45...

https://www.freightwaves.com/news/us-exports-of-crude-oil-and-diesel-are-climbing-even-higher

Batten down the hatches: Shipping stocks ‘unable to escape the torrent’

photo of stock chart; shipping stocks are falling

Bulk commodity shipping stocks kept rising in May even as the broader market fell, offering shelter from the storm. Not so in June. With few exceptions, dry bulk and tanker stocks that previously held up are sinking. Declines for container shipping stocks have accelerated.

Shipping stocks have been “unable to escape the torrent,” wrote Clarksons Platou Securities analyst Frode Morkedal. “Demand destruction is a major source of concern.”

Ben Nolan, shipping analyst at Stifel, said, “The equities...

https://www.freightwaves.com/news/batten-down-the-hatches-shipping-stocks-unable-to-escape-the-torrent

How new EU sanctions on Russia will shake up global energy trade

Russian sanctions: Map of Russia and Russian currency

The Ukraine-Russia war has already shaken up global energy markets. Sanctions finalized Friday by the EU will shake it up a lot more — not only for the tanker industry but also for American diesel and gasoline consumers.

The U.S. banned imports of Russian crude and products in early March. The new EU sanctions will end Europe’s imports of Russian seaborne crude by Dec. 5 and refined products by Feb. 3, 2023.

Perhaps even more importantly, the EU will phase in bans on EU insurance, reinsurance,...

https://www.freightwaves.com/news/how-new-eu-sanctions-on-russia-will-shake-up-global-energy-trade

US exports even more oil as domestic gasoline and diesel prices spike

crude tanker shipping

U.S. oil exports are booming at the very time domestic gasoline and diesel prices are at or near their peaks. With America’s fuel prices expected to rise even further, the “resource nationalism” debate — should we be exporting commodities we need? — is heating up.

According to new tanker cargo volume data from Kpler, U.S. crude exports averaged 3.13 million barrels per day (b/d) in January-May. That’s the best first five months of the year ever. Exports of clean petroleum products — including...

https://www.freightwaves.com/news/us-exports-even-more-oil-as-domestic-gasoline-diesel-prices-spike

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