EMEA News
Istanbul Bunker Demand Drops by 50% on Ukraine Crisis
Thursday March 3, 2022
Bunker demand in Istanbul has roughly halved since the outbreak of war in Ukraine and subsequent tensions in the Black Sea.
Marine fuel sales have fallen by about 50% since the start of the crisis, local market sources told Ship & Bunker on Thursday.
Turkey also receives much of its marine fuel supply from Black Sea ports, and this flow is as yet uninterrupted, but financial sanctions against Russia may start to hamper it if cargoes cannot be paid for, the sources said.
Several shipping companies have stopped calling at Black Sea ports since the start of the crisis, with some vessels being damaged in the conflict around Ukrainian ports.
The Turkish bunker market totalled about 2.6 million mt in sales last year.
