Martin Shaw, , managing director,, MOAMS
Capt. Leonid Zalenski, group COO and group director marine, , Columbia Ship Management
Konstantinos S. Galanakis,, , CEO, Elvicor Group
Theophanis Theophanous, managing director, , Bernhard Schulte Shipmanagement (Hellas)
Jun 13 2022
European importers avoid crude oil shipped from Russia, as a response to the invasion of Ukraine. Russia switches flows of crude oil towards Asia.
Date: 13 June 2022 Summary: News: European importers have been avoiding crude oil shipped from Russia, as a response to the invasion of Ukraine. This has driven a rather remarkable switch in the direction of Russian crude oil flows towards Asia, mostly India and China. Assuming the Continent will fully avoid Russian seaborne flows at some point, this would affect average monthly flows of 55 million barrels (around 1.8 million b/d), or up to 85 million barrels (2.8 million b/d), if barrels of Kazakhstan are included.
Date: 13 June 2022
Summary:
News: European importers have been avoiding crude oil shipped from Russia, as a response to the invasion of Ukraine. This has driven a rather remarkable switch in the direction of Russian crude oil flows towards Asia, mostly India and China. Assuming the Continent will fully avoid Russian seaborne flows at some point, this would affect average monthly flows of 55 million barrels (around 1.8 million b/d), or up to 85 million barrels (2.8 million b/d), if barrels of Kazakhstan are included.
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