Ocnus.Net
News Before Its News
About Us | Ocnus? |

Front Page 
 
 Africa
 
 Analyses
 
 Business
 
 Dark Side
 
 Defence & Arms
 
 Dysfunctions
 
 Editorial
 
 International
 
 Labour
 
 Light Side
 
 Research
Search

Business Last Updated: Sep 27, 2023 - 11:51:09 AM


Europe is successfully replacing its lost Russian diesel supply
By Prejula Prem, Bloomberg, 25/5/23
May 26, 2023 - 11:03:02 AM

Email this article
 Printer friendly page

Despite Russia being the EU’s previous main supplier of diesel, before the latter’s oil sanctions on the former, the EU has managed to secure an oil delivery boon from the Middle East and US.

The European Union is managing to replace shipments of diesel from Russia — by far the bloc’s top external supplier before a ban on seaborne imports started in February.

The success will be a relief to governments across the continent because Russia had previously often made up more than half the shipments delivered into the EU and UK. Failure to find alternatives would threaten the availability of a fuel used in everything from industry to freight to road transportation.

Instead, deliveries from other nations have soared. Total arrivals of diesel and gasoil — a very similar fuel — are expected to surge to a four-month high of about 1.25 million barrels a day in May, according to data compiled by Bloomberg from shipping analytics firm Vortexa Ltd.

Excluding a period just before the imports ban began — when countries were stocking up in readiness for the ban — May’s flows are in line with average shipments across 2022, and up year-on-year.

Deliveries from the Middle East and the US are booming. Flows from Saudi Arabia are expected to reach a new high of about 324,000 barrels a day, while cargoes from the US are set to be the highest since August 2020.

Shipments from Asia are set to decline this month due to lower flows from China and Singapore, although diesel-type cargoes from India are expected to climb.


Source:Ocnus.net 2023

Top of Page

Business
Latest Headlines
India Expands Maritime Trade Corridors With Russia
Container freight rates to hit 2016 levels
Russia’s Vanishing Trade Surplus
 Procurement: Russia Has a Plan
First big grain ship leaves Ukraine’s Black Sea port
Russia mulls extra tax for some commodities exports, including metals
Ships ready to export Ukrainian grain but Russian SWIFT access, insurance remain issues
Panama Canal: Is the Situation Affecting the Tanker Markets?
Gazprom Ships its First Cargo of LNG to China Via Arctic Waters
Africa is like an island: who controls the ports holds the continent