Russia has resumed diesel shipments following a partial relaxation of its export ban. Reuters reported on October 15 that export shipments were once again being processed at the Baltic Sea port of Primorsk. The agency cited shipping data from financial data provider LSEG as its source.
According to the report, approximately 40,000 tonnes of low-sulfur diesel loaded on October 13 was en route to Morocco. The partial lifting of the ban has been in effect since October 10, according to the report. The Kremlin characterized the deliveries as a contribution to stabilizing the energy market. This is a political assessment, not a demonstrated price effect. (Source: Reuters via AOL)
For transport companies, additional diesel on the world market is generally relevant market information. However, whether this results in lower purchase prices also depends on transportation, demand, taxes, and the permitted source of supply in each case. A single tanker is not yet conclusive evidence of lasting market relief.
Shippers should therefore continue to apply existing fuel clauses based on the agreed pricing basis. When offered Russian goods, applicable sanctions and the entire supply chain must be verified. The restart of Russian exports does not automatically lift foreign restrictions. For calculation purposes, what counts is the actual available and legally permissible diesel price at the shipper's own sourcing location.