Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.
Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.
The “shadow fleet” is not large enough to save Russian oil exports from Western sanctions, according to multiple analysts.
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.
Sanctions have put two of Volga-Dnepr’s three cargo airlines out of action. The Russian airline is grasping for lifelines.
Fallout from the Ukraine-Russia war and concerns over power supply in Europe and Asia support demand for seaborne coal.
Kpler: Russian crude exports in April highest since June 2019
Amsterdam airport lost a major cargo customer because of Russia’s invasion of Ukraine.
Without sanctions, tankers will keep loading Russian oil. ‘We’re not taking a moral high ground,’ says Frontline’s CEO.
“The only reason for an oil tanker to go to Saldanha Bay is to unload the oil into storage,” says an industry consultant.
Air Lease Corp. is writing off $800 million worth of aircraft it can’t reclaim from Russian airlines – another reason leasing could be more expensive.
The U.S. government is preventing the sale of any item to a Russian cargo airline it accuses of flying U.S.-made aircraft in violation of sanctions.
Russian imports via ocean, truck, rail and air are now being simultaneously squeezed. Shipping data shows growing pressure.
The air cargo market turned negative in March, after a strong February, because of the Ukraine war. Analysts say inflation and lower export orders could signal less shipping activity ahead.
The United States has imported a relatively small share of crude oil from Russia, but U.S. imports of petroleum products from Russia — namely, unfinished oils and fuel oil.
AirBridgeCargo has stopped flying its large Boeing 747 cargo jets because of U.S. and European sanctions on Russia.
Getting Russian aircraft in the air to fly home is like aiding and abetting a criminal, the U.S. says. Penalties will apply.
Fancy a Moscow mule or White Russian? Get ready to change brands.
The knock-on effects from the Ukraine crisis are being felt across the business world, not least in air cargo.
