Tanker Market: Russian Fuel System in Limbo

AI Summary

Russia's crude processing capabilities have declined recently, resulting in altered cargo flow with increased crude volumes being exported via sea routes. As the war in Ukraine continues into its fifth year, this shift is one of the most significant market impacts emerging from the conflict.

Russia’s ability to process crude has taken a hit lately, which in turn has shifted cargo flows towards more crude being pushed into seaborne exports. In its latest weekly report, shipbroker Intermodal said that “as the war in Ukraine extends into its fifth year, one of its most significant market consequences is emerging not on ...