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Russian Fuel Export Ban Halting Clean Vessels

OIL PRODUCTS

Bloomberg vessel tracking has flagged clean tankers bound for Russian diesel exporting ports going under anchorage because of yesterdays ban.

  • The Aegeas is still signaling Primorsk according to the latest data and had an expected arrival of Sept. 22 but after yesterday’s news is now floating according to Bloomberg.
  • The Ocean Wave I, was expected to arrive at Primorsk Sept. 24 to load diesel-type fuel but is now anchored close to the Aegeas.
  • The move will likely cause numerous diversions for the Russian clean fleet as well as lay vessels up. The lack of clarity about the duration of the ban also causes the fleet logistical issues.
  • Citi and JP Morgan have forecast the ban will last between 2-6 weeks and likely lead to higher crude exports from the country.

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