World News
EU Mulls Sanctions on Sovcomflot-Linked Shipping Firm
The European Union is considering sanctioning Dubai-based SUN Ship Management Ltd, a firm linked to Russian shipping company Sovcomflot.
EU diplomats and officials are currently discussing the proposal on the belief that SUN is helping Russia to evade restrictions on its oil exports, news provider Politico reported on Wednesday, citing comments from diplomats.
SUN, previously called SCF Management Services, took over management of Sovcomflot's fleet of 92 vessels in April 2022.
Russia has faced a range of sanctions from Western countries since its invasion of Ukraine a year ago. A coalition of the European Union, G7 countries and Australia imposed a price cap on its seaborne crude exports on December 5, and a separate cap on refined product shipments on February 5.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| 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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