World News
EU Ports Ban For Vessels Suspected of Ship-to-Ship Transfers of Russian Oil
A new package of European Union sanctions is aiming to crack down on ship-to-ship transfers of Russian oil.
EU member states agreed an 11th package of sanctions against Russia over the war in Ukraine on Wednesday, news agency Reuters reported.
One measure in the package is a ban on access to EU ports for ships engaging in ship-to-ship transfers of cargo suspected to be of Russian origin.
Western governments have sought to stymie Russian oil exports since the outbreak of war in Ukraine in February 2022, but the oil is still flowing in significant quantities and new buyers have been found in the Asia-Pacific region.
Tankers carrying Russian product have been surreptitiously transferring their cargo to other ships at various locations around the Mediterranean in an effort to disguise the origin of the oil.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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