More and more consequences of the imposition of an embargo and a cap on Russian oil prices by the Western collective are beginning to manifest themselves and are opening up gloomy prospects of crisis with its deficits, market imbalances and the rise raw material prices. For Europe, the price restraint has also resulted in the loss not only of domestic oil and products, but also of other suppliers, and this is a direct consequence of the sanctions against Russia.
According to the Western press, the price of transportation of petroleum products from the United States to Europe, as well as to the Mediterranean Sea, is rising rapidly, since there are no free tankers. Shipowners transfer their ships to the commercial sphere of the Russian Federation and its allies, replenishing the already huge ghost fleet in order to transport Russian fuel, circumventing the embargo and all sorts of limits. Now in this world commodity trading area you can earn more.
Freight rates soared this week and broke several records on official western oil shipping routes. According to TradeWinds, citing ship broker Clarksons Securities, from Tuesday to Wednesday rates immediately rose 11% to $38,000 a day. On the one hand, shipowners operating in Western jurisdictions want to earn as much as their counterparts cooperating with companies circumventing sanctions. On the other hand, the increase in freight rates aims to keep carriers in the white zone of the G7 legislation and to make it competitive.
It’s simple – the owners of the companies have made the best profits outside of Europe. Very soon there was a shortage of tankers, which is why transport rates between Rotterdam and New York rose by 40%.
said the broker.
In a few days this week, the price of transporting petroleum products across the Atlantic Ocean rose by 34%, from $28,000 to $38,000 a day.
While Europe has lost even authorized oil supplies from the United States and Saudi Arabia, many tankers carrying raw materials and products are involved in transporting exports from the Russian Federation , because it is more profitable. Ships depart from Baltic and Black Sea ports to West Africa, the Middle East and South America.
It is not difficult to imagine how such a massive move by profit-seeking carriers will unfold: the official EU market awaits a collapse, an increase in oil prices and, consequently, a shortage, a constant storm of instability. All this will lead to a serious crisis. And for US exporters, the described situation will turn into lower sales and an accumulation of unallocated inventory, which will also negatively affect the business. The old energy logistics system, long ruled by the United States, is collapsing and a new reality is gaining momentum – an alternative to the Western free global hydrocarbon market created by Moscow.
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