Ukraine Russia Archives - Maritime Shipping News

US pulls trigger on Russian sanctions, blacklists 2 crude tankers

13 October 2023

It took a while but it finally happened: The U.S. Treasury Department has begun sanctioning tankers transporting Russian crude oil valued above the West’s price cap.

Since Dec. 5, 2022, the Group of Seven nations, members of the European Union and Australia have barred their countries’ marine service providers from working with tankers carrying Russian crude priced above $60 per barrel. Tankers carrying crude above the cap that use G-7, EU or Australian services have been threatened with...

https://www.freightwaves.com/news/us-pulls-trigger-on-russian-sanctions-blacklists-2-crude-tankers

Container shipping has a Europe problem and it’s getting worse

26 September 2023

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With all the attention on U.S. consumers and inventory levels, Europe’s importance to shipping lines...

https://www.freightwaves.com/news/container-shipping-has-a-europe-problem-and-its-getting-worse

How will Russian ban on diesel exports impact global energy trade?

23 September 2023

Yang Ming blames economic uncertainty for $4M Q2 loss

11 August 2023

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Yang Ming Marine Transport Corp. on Friday reported a second-quarter after-tax net loss of $4.27...

https://www.freightwaves.com/news/yang-ming-blames-economic-uncertainty-for-4m-q2-loss

How LNG shipping kept Europe’s wartime energy supply secure

17 May 2023

A year ago, an armada of ships came to Europe’s aid, bringing U.S.-produced liquefied natural gas to replace Russian pipeline gas supplies lost in the wake of the war. The outlook for the coming winter was dire despite the surge of American LNG cargoes — then it grew even worse.

A fire and explosion took Texas’ Freeport LNG facility offline last June, removing a major U.S. export source. The price of natural gas in Europe hit $100 per million British thermal units (MMBtu) in late August, the...

https://www.freightwaves.com/news/how-lng-shipping-kept-wartime-europes-energy-supply-secure

What will happen if Russia blocks Black Sea grain ships?

6 May 2023

Russia is threatening to pull the plug on the Black Sea Grain Initiative on May 18, blocking Ukrainian seaborne exports of corn and wheat. The European Union has banned Ukrainian agriculture exports to neighboring Romania, Bulgaria, Poland, Hungary and Slovakia until June 5, with an extension through year-end possible. The Tolyatti-Odessa pipeline, a key conduit for Russian exports of ammonia — a vital fertilizer feedstock — remains offline.

CNBC recently warned that “the basic food security of...

https://www.freightwaves.com/news/what-will-happen-if-russia-blocks-the-black-sea-grain-ships

Could future supply chain crisis hit diesel shipping, not containers?

17 March 2023

Global trade in diesel and other refined petroleum products is evolving exactly as predicted. European Union and G-7 sanctions targeting Russian exports are forcing product tankers to sail longer voyages and sucking more ships into the “shadow fleet,” reducing effective transport supply in Western trades.

What comes next for already tight transport supply is also completely predictable.

The number of new product tankers on order is historically low. Given construction lead times and shipyards...

https://www.freightwaves.com/news/future-supply-chain-crisis-could-hit-diesel-shipping-not-containers

The rise of crude tanker ‘cannibals’ in wake of Russia-Ukraine war

27 February 2023

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The Ukraine-Russia war has rerouted crude tanker flows over the past year, equating to higher...

https://www.freightwaves.com/news/the-rise-of-crude-tanker-cannibals-in-the-wake-of-war

One year later: How Ukraine-Russia war reshaped ocean shipping

25 February 2023

“It’s like when you were a little kid and played a game where you laid siege to a castle and you surrounded it, trying to starve the people out. But in this siege — Russian sanctions — half the castle has been left unsurrounded. They can just open the doors and get resupplied with food and trade every day,” said Robert Bugbee, president of Scorpio Tankers (NYSE: STNG).

One year ago, Russia invaded Ukraine. Bugbee’s comments, delivered at the Norwegian-Hellenic Chambers of Commerce shipping...

https://www.freightwaves.com/news/one-year-later-how-ukraine-russia-war-reshaped-ocean-shipping

Welcome to the dark side: The rise of tanker shipping’s ‘shadow fleet’

9 February 2023

The European Union and G-7 nations, together with Australia and Japan, implemented sanctions against Russian refined products exports Feb. 5. Restrictions on Russian crude exports began Dec. 5. The system was designed to keep Russian cargo flowing — and it’s definitely still flowing.

“We see no indication that Russia will have to cut back its exports of crude or refined products,” said David Wech, chief economist of Vortexa, during a presentation Thursday.

And despite predictions to the contrary,...

https://www.freightwaves.com/news/welcome-to-the-dark-side-the-rise-of-tanker-shippings-shadow-fleet

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