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MNI BRIEF: China Has Been In Communication With U.S. On Trade

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OIL: 60% Of Tankers Sanctioned On Jan. 10 Now Idle

OIL
BulletEnergy BulletsCommodities

94 of the 154 active tankers sanctioned by the US on Jan. 10 are now idle, Bloomberg reports. 

  • Around half of the idled vessels became inactive as soon as they were blacklisted.
  • Of 44 that have taken on cargoes since being blacklisted, 20 are operating solely within Russia.
  • Another nine are specialized shuttle ships used by two projects on Sakhalin Island in Russia’s Far East, most of which are struggling to offload their consignments, Bloomberg reports.
  • The Indian government has said it won’t allow sanctioned ships to dock at its ports after Feb. 27 and before then only if they are carrying cargoes loaded prior to Jan. 10.
  • Many ports in China’s Shandong province, a hub for independent refiners, are wary of handling sanctioned tankers after a warning from a major terminal operator.
  • Likewise, Tupras, the biggest refiner in Turkey, is also restricting purchases to avoid falling foul of US sanctions, according to Bloomberg.
  • The Jan. 10 measures are forcing Russia to rewire its oil supply chain to find alternative ships and pay high freight costs for them, according to Bloomberg.
RussiaTankers
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94 of the 154 active tankers sanctioned by the US on Jan. 10 are now idle, Bloomberg reports. 

  • Around half of the idled vessels became inactive as soon as they were blacklisted.
  • Of 44 that have taken on cargoes since being blacklisted, 20 are operating solely within Russia.
  • Another nine are specialized shuttle ships used by two projects on Sakhalin Island in Russia’s Far East, most of which are struggling to offload their consignments, Bloomberg reports.
  • The Indian government has said it won’t allow sanctioned ships to dock at its ports after Feb. 27 and before then only if they are carrying cargoes loaded prior to Jan. 10.
  • Many ports in China’s Shandong province, a hub for independent refiners, are wary of handling sanctioned tankers after a warning from a major terminal operator.
  • Likewise, Tupras, the biggest refiner in Turkey, is also restricting purchases to avoid falling foul of US sanctions, according to Bloomberg.
  • The Jan. 10 measures are forcing Russia to rewire its oil supply chain to find alternative ships and pay high freight costs for them, according to Bloomberg.
RussiaTankers