Even if no oil moves under price caps, Russian exports could face deep discounts and continue to flow via “shadow tankers.”
Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.
The EU is going to ban imports of Russian crude and petroleum products. It still has a long way to go to find replacement supplies.
The G-7 plan to squeeze Russia’s oil profits hinges on the EU revising its own sanctions. Those revisions face opposition.
“Right now, shipping companies around the world are looking at this and scratching their heads,” says sanctions expert Bruce Paulsen.
Tanker stocks are proving to be a shelter from the Wall Street storm as demand grows for ships that transport oil and natural gas.
Tankers stocks are doing great. Dry bulk and container stocks temporarily stopped the bleeding. “Maxim stocks” still underperform.
It looks increasingly likely that war-driven changes to global crude flows will persist for an extended period.
Tankers are very busy loading up with American crude oil and refined products sold to overseas buyers.
Bulk commodity shipping stocks held up well before this month. Now they’re falling alongside container shipping stocks.
