1 year ago
86 Buddhika Weerasinghe | Bloomberg | Getty Images
New Turkish security rules connected lipid tankers carrying Russian crude proceed to dilatory down the question of tankers disconnected the seashore of Turkey and betwixt Russia's Black Sea ports and the Mediterranean. Sixteen vessels (none Russian-flagged) are waiting for security clearance, according to MarineTraffic, and that fig is expected to grow.
Based connected MarineTraffic data, 35 vessels including 9 Russian-flagged tankers person departed from Russia since the archetypal time (Dec. 5) a G7 federation lipid terms headdress and European Union prohibition connected astir Russian crude purchases went into effect.
"All the vessels heading to the Bosphorus from the northbound (to permission Black Sea) are mostly full," said Captain Adil Ashiq, United States Western Region enforcement for MarineTraffic.
"The bulk of crude is going to Turkey, followed by Greece, Italy, and India," Ashiq said.
Tankers with a destination of Russia tin beryllium seen successful the corresponding MarineTraffic graphic.
'Shadow fleet' from China, India
VesselsValue tells CNBC that the mean hold for tankers astatine the Bosphorus has accrued compared to past week by astir 47%, erstwhile determination were 14 vessels with an mean hold duration of 64 hours and a combined tonnage capableness of 1.46 cardinal tons.
"As we get further into the duration of the Russian crude lipid sanctions and terms cap, we expect to spot expanding congestion connected the northbound and southbound broadside of the Bosphorus, on with areas astir the Dardanelles Strait for the aforesaid reasons," said Graham Close, Senior Trade Analyst astatine VesselsValue.
Andy Lipow, president of Lipow Oil Associates, tells CNBC that concerns astir the property and prime of the shadiness fleet carrying Russian crude lipid done the Bosphorus volition lone grow.
"As the EU sanctions instrumentality hold, these transit delays volition interaction Chinese and Indian refiners who stay the largest and turn successful value for Russian lipid sales," Lipow said. "Turkey wants insurers to supply afloat and all-encompassing liability security for thing sanctions related and of course, P&I [maritime extortion and indemnity insurance] clubs are not going to bash that."
