ShippingWatch

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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Tankers CEO sees no reason to merge tanker carriers

It has long been discussed, and the chief executive of a competitor points to Maersk Tankers as a driver in the tanker sector's consolidation race. However, Maersk Tankers CEO Christian M. Ingerslev does not see much sense in combining balance sheets, he tells ShippingWatch.

Related articles

Latest news

See all jobs