Baltic Sea tanker market very volatile

Tanker carriers experience major fluctuations in the demand in the Baltic Sea region, affecting freight rates. The reasons must be found in the oil exports from the Former Soviet Union states going through major changes, Hellenic Shipping News reports.

The tanker market is experiencing major fluctuations in the Baltic Sea at the moment. Among other things, this is caused by the export of oil from Former Soviet Union states undergoing significant changes, Hellenic Shipping News reports. Recently, a report from the consultancy firm Poten & Partners stated that a recently finished expansion of the Eastern Siberia-Pacific Ocean pipeline, transporting Russian crude oil, will provide producers with increased access to Asia through a terminal in Kozmino in the Russian Far East.

Alongside the expansion of the pipeline, a number of other projects were adopted in order to avoid a conflict between Russia and its neighbours on the export of oil through the Druzhba pipeline while meeting an increase in Asian crude oil demand.

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