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S&P Global: Russia’s ghost fleet estimated at 434 vessels

glory 17-03-2023 21:19 Area News
Since the introduction of G7 oil price cap for Russia’s crude oil and refined products there have been speculations on Russia’s so-called shadow fleet being used to evade sanctions. Russia has repeatedly stated that it...
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Sanctions aftermath: India emerges as top buyer of Russia’s seaborne crude

glory 23-01-2023 16:41 Area News
India has become the largest seaborne importer of Russian crude in the wake of the EU ban on seaborne oil imports and subsequent G7 price cap for exports. Exports to India increased from virtually nothing prior to Russia...
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Poten: Unipec king of VLCC charters, Lukoil doesn’t make the cut

glory 06-01-2023 20:26 Area News
Unipec, a wholly-owned subsidiary of China Petroleum & Chemical Corporation, remained the king of the VLCC charter market in 2022 with 746 reported fixtures, according to Poten & Partners. However, Russia’s...
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MOL CEO: We will transport LNG from Russia as long as we can

glory 05-01-2023 14:59 Area News
Japanese shipping heavyweight Mitsui O.S.K. Lines plans to resume energy transport business, mainly of LNG, from Russia as long as possible, the company’s President & CEO Takeshi Hashimoto said in a New Year’s...
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Russia’s Sovcomflot takes delivery of LNG-fuelled Aframax tanker

glory 30-12-2022 14:47 Area News
Russia’s state-owned shipping company Sovcomflot (SCF Group) has welcomed into the fleet a new generation LNG-fuelled Aframax oil tanker Okeanskiy Prospekt. The 112,650 dwt ship was built at the Zvezda SSC in Primorsky...
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Japanese insurers scramble to retain marine war cover to secure LNG imports from Russia

glory 29-12-2022 18:25 Area News
Japan, the world’s top importer of LNG, is working with marine insurers in the country to ensure LNG imports from Russia are not jeopardized in the wake of the latest sanctions against Moscow. Three companies from Japan...
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Putin bans oil sales to countries abiding by the price cap

glory 28-12-2022 15:28 Area News
Russian President Vladimir Putin signed an Executive Order on Tuesday, December 27, banning the sale of oil and oil products to foreign companies and individuals abiding by the price cap imposed by the Westrn nations. To...
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Finland injects €80 mln in Meyer Turku to overcome hurdles caused by Russia’s war in Ukraine

glory 20-12-2022 16:42 Area News
Finland’s largest shipbuilder Meyer Turku is getting an €80 million ($85 million) financial lifeline from the Finnish government to overcome liquidity challenges caused by the ongoing geopolitical situation caused by Russia...
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All eyes on Russia’s fleet as crude oil price cap, OPEC+ cut perpetuate tanker markets’ volatility

glory 05-12-2022 19:13 Area News
Uncertainty and volatility continue to cast a shadow over the oil and tanker market as December 5 deadline for the oil price cap for Russian oil expires. Today, all eyes are set on Russia to see what vessels will be...
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DSME terminates LNG carrier contract with a Russian client

glory 28-11-2022 17:57 Area News
South Korea’s shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has canceled a contract for the construction of an LNG carrier from a client from Russia. The contract termination was assigned to delays...
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