March 16, 2023 16:16 GMT
Russian Floating Diesel Mounts Post Feb 5
Gasoil/diesel from Russia held in floating storage has ticked lower to 4.2mn bbls March 15 according to Kpler – it reached about 5.3m bbl on March 12.
- Volumes have risen sharply since EU Feb 5 sanctions – (see chart)
- Vortexa said that higher floating volumes are due to normal longer wait times in new markets in Africa and China rather than signalling a lack of buyers at present.
- The market is keeping an eye on Russian floating volumes for signs it may be struggling to place volumes in new markets as well as gain an understanding about the mounting inefficiencies the Russian fleet is developing – reducing effective fleet capacity.
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