Oil Tanker Owners Show Signs of Shunning Russia’s Asian Crude
- Tanker tracking points to decline in exports from Kozmino
- Shipbrokers say it’s proving hard to find tankers for ESPO oil
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There are tentative signs that oil tanker companies are avoiding sending their ships to collect crude from a key Russian port in Asia following G-7 sanctions targeting Moscow’s petroleum revenues.
Since Dec. 5, buyers of cargoes from Russia have only been allowed to access industry standard insurance and an array of trade-critical services if they pay $60 a barrel or less. Shipments of the key ESPO grade from the Asian port of Kozmino are about $10 above that, meaning they need to make alternative arrangements.