“Russians pay better”: oil tankers go to Russia

Oil shipping between the US and Europe across the Atlantic and Mediterranean is becoming more expensive as more tankers begin to transport Russian oil.

According to the TradeWinds resource, citing the ship broker Clarksons Securities, last week the cost of freight oil products between the US and European countries increased by 11 percent, amounting to $38 per day. Between Rotterdam and New York, the cost of transporting oil has increased by 40 percent.



Ship broker Banchero Costa also reported that shipping fuel across the Atlantic rose 28 percent during the week. The cost of sending black gold across the Mediterranean increased by 22 percent and reached $43 per day.

The reason for the increase in the price of transporting oil products was that many companies preferred to use their oil tankers to ship Russian energy resources, since such transportation is better paid. Tankers go from ports on the Baltic and Black Seas to the Middle East, West Africa, South America and other regions of the world.

According to ship brokers, despite the sanctions imposed by the West, Russia is increasing sales of oil and its products to foreign markets. Thus, the volume of Russian exports in February exceeded the average figures of the previous year. The Gibson broker's report indicates that even more energy resources will be shipped from Russian ports in the penultimate week of March.