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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Shipments of Russia’s key ESPO crude oil are showing unexpected delays and longer journeys with ships bouncing between ports in China and more cargoes heading to India.
- The delays are increasing time at sea, reducing loading frequency and increasing the number of ships to result in higher shipping costs.
- Six out of a total 29 February-loading tankers have yet to discharge their cargoes in China, according to Bloomberg ship-tracking data. It would normally take four-to-five days for a vessel to reach its destination and another two days to offload its cargo.
- Three of ten ESPO cargoes from Kozmino so far in March are heading for India compared to just one between October and February. A voyage from Kozmino to India takes about three weeks compared with less than one week to China.
- Competition to purchase Russian ESPO has increased for April delivery with renewed interest from refiners in China and India.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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