Following many rounds of sanctions levelled against Russia, the Baltic Exchange has decided to suspend covering three tanker routes as well as changing the description of another Black Sea route.
TD17 and TD24, dirty tanker indices which assess rates from Primorsk to Wilhelmshaven and the the Russian Far East to China respectively, will cease from October 21, while the London institution will stop publishing details of the TC9, a clean tanker index focusing on the route from Primorsk to Le Havre from December 23.
Meanwhile, the description of the TD6 Black Sea to the Mediterranean route is changing, replacing Novorossiysk with Caspian Pipeline Consortium to Augusta.
All changes are in line with the dramatic, ongoing redrawing of the European energy map in the wake of Russia’s invasion of Ukraine. On December 5, the EU will ban imports of Russian crude oil and prohibit providing insurance and finance for seaborne oil.