Shippers Still Willing to Touch Russian Crude Oil Are Cashing In
- Earnings surged for hauling ESPO grade from Kozmino to China
- Chinese, Greek, Turkish ship owners dominate lucrative trade
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A handful of shipowners still willing to transport Russian crude are reaping big rewards on at least one route as others shun the trade.
Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the eastern port of Kozmino to China, said shipbrokers. That’s around triple the amount prior to the invasion of Ukraine, based on data compiled by Bloomberg. The lucrative trade has become a regular fixture for vessel owners from China, Turkey and Greece, they added.