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Baltic tanker trades set for shakeup

Tanker trading patterns in the Baltic are set for a shakeup with news that Russia will stop exporting oil products from foreign ports in the region by 2018. Russia’s oil pipeline boss, Nikolai Tokarev, revealed the news while in discussion with the nation’s president, Vladimir Putin on Monday.

If confirmed the news is a blow to the Baltic states of Lativa, Lithuania and Estonia. It would also hit Vitol, the world’s top oil trader, which controls the Latvian port of Ventspils.

“We will be shipping through our own ports as there is surplus capacity,” Tokarev said. Russian ports in the Baltic include Primosrk and Ust-Luga.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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