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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bloomberg.
In the week that ended December 16, which marked the first full week after the ban set in, total volumes coming out of Russia fell by 1.86 million barrels a day, or 54%, to about 1.6 million. The four-week average also dropped to a new low for 2022.
Signs also pointed to a a shortage of ship owners who were willing to transport Russian oil from an export facility in Asia, the report said.
However, the data must be viewed cautiously, as variables like weather and cargo scheduling can sway week-over-week changes in flows.
Still, other evidence has emerged that the market for ships is tightening. US oil company Exxon Mobil is avoiding hiring oil tankers that used to carry Russian supplies, according to Bloomberg.
Global energy rival Shell has also made a similar move as the possibility of some Russian oil being left over in a tanker risks violating sanctions.
While a “dark fleet” of tankers has been assembled to move Russian oil below the radar, the oil majors are making it harder for those ships to eventually go back to moving non-Russian supplies.
Staring December 5, the EU banned imports of Russian oil by sea and blocked shipping and related financial services for companies transporting Russian oil. At the same time, the EU and the G7 imposed a $60-per-barrel price cap on Moscow’s crude.
The aim is to stifle Moscow’s export revenue while still keeping Russian crude flowing on the market and preventing a supply shock that would spike prices.
For buyers abiding by the cap, some of the measures in the EU embargo are allowed, such as insurance. For those that pay above $60 a barrel, then they cannot access EU services for 90 days.
Source: Business Insider
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Tamil Nadu electricity Board
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- Economic Council, Georgia
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- Parliament of New Zealand
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- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
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- Indonesian Coal Mining Association
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- Banpu Public Company Limited - Thailand
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- Thai Mozambique Logistica
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- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
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- Central Electricity Authority - India
- White Energy Company Limited
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- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- The Treasury - Australian Government
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- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
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- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
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- South Luzon Thermal Energy Corporation
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- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
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