World News
Russian Crude Shipments Point East: Report
Reports of VLCC shipments of Urals crude oil heading east by maritime news provider Tradewinds and an Indian Oil Corp tender to buy 3 million mt of Urals crude oil reported by Reuters suggest eastern destinations are opening up for Russian crude.
Citing ship broking sources, the Tradewinds report said that four VLCCs lifting Urals crude to go east is about double the number typically seen in a month.
Shipments of Russian crude do not fall within the scope of sanctions imposed by western states following Russia's invasion of Ukraine.
However, the increased tanker activity and tender could mean that India may become a more prominent buyer of Russian volumes when, traditionally, it has not imported much Urals crude.
But ship brokers added that the situation surrounding shipments of oil and products cargoes out of Russia remains fluid and fraught with uncertainties, the report said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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