{"id":44998,"date":"2025-01-16T13:24:31","date_gmt":"2025-01-16T12:24:31","guid":{"rendered":"https:\/\/maritimefinance.eu\/?p=44998"},"modified":"2025-01-23T12:19:30","modified_gmt":"2025-01-23T11:19:30","slug":"ofac-sanctions-send-tanker-demand-soaring","status":"publish","type":"post","link":"https:\/\/maritimefinance.eu\/da\/ofac-sanctions-send-tanker-demand-soaring\/","title":{"rendered":"Crude oil freight rates go through the roof on new sanctions"},"content":{"rendered":"
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OFAC sanctions send tanker demand soaring<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Nearly 10% of global<\/span> tanker <\/span>fleet blacklisted \u2013 <\/span>remaining <\/span>market set to benefit<\/span><\/h4>

The Office of Foreign Assets Control (OFAC) has added further vessels transporting Iranian and Russian oil above the price cap to its sanctions list, raising the total to 400 \u2014 nearly 10% of the global tanker fleet. With some Indian and Chinese ports refusing these ships, a substantial share of capacity has disappeared, causing rates to spike sharply.<\/p>

\u201cTanker rates have lifted across most segments, spurred by positive sentiment following the recent US sanction actions\u201d, Jefferies writes in a note.<\/p>

The new US sanctions will hit Russia\u2019s energy sector, including more than 180 ships and dozens of oil traders and oil field service providers. The sanctions are also an attempt to limit the Kremlin\u2019s revenues, which fund the Russian war machine in Ukraine.<\/p>

According to Fearnleys, China\u2019s port ban alone could create demand for the equivalent of 40 VLCCs \u2014 an indication of the scale of this change. With very few new crude tankers set to join the fleet in 2025, the supply-demand gap is expected to widen further, raising freight rates even more. As cargoes shift to compliant ships and any additional cuts in Russian or Iranian exports boost the need for larger vessels, the tanker market stands to benefit.<\/p>

According to DNB Markets, there is room for western governments to continue increasing the number of sanctioned vessels on their lists, which will boost the tanker market further. Read more about the situation here at https:\/\/shippingwatch.com\/carriers\/Tanker\/article17811407.ece<\/a><\/p>

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Source: Fearnleys, Clarksons Research and Shippingwatch.<\/p><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tFleet\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

OFAC sanctions send tanker demand soaring Nearly 10% of global tanker fleet blacklisted \u2013 remaining market set to benefit The Office of Foreign Assets Control (OFAC) has added further vessels transporting Iranian and Russian oil above the price cap to its sanctions list, raising the total to 400 \u2014 nearly 10% of the global tanker […]<\/p>","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[70,68],"tags":[],"post_folder":[73,13],"class_list":["post-44998","post","type-post","status-publish","format-standard","hentry","category-en","category-market-news"],"yoast_head":"\nCrude oil freight rates go through the roof on new sanctions - European Maritime Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/maritimefinance.eu\/da\/ofac-sanctions-send-tanker-demand-soaring\/\" \/>\n<meta property=\"og:locale\" content=\"da_DK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude oil freight rates go through the roof on new sanctions - 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