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Russian Floating Storage Increases on Longer Waits

OIL

Floating Russian diesel and crude has remained high since late last year according to vessel tracking firms. Vortexa pins higher floating storage on longer waiting times to offload in new markets in Africa and China rather than other assessments suggesting the cargoes are waiting for a buyer.

  • Longer waits to offload will still be of concern for Russian export volumes remaining high moving forward as the combination of longer journeys and longer offload times snarl up available fleet capacity.




source: Vortexa

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