US sanctions have affected around 10% of the global oil tanker fleet, with at least 65 tankers dropping anchor in various locations including China and Russia. The latest measures target Russian oil producers Gazprom Neft and Surgutneftegaz, as well as 183 vessels that have shipped Russian oil.
These sanctions are adding to pressure on vessels already hit by previous US sanctions, which include another 25 oil tankers stationed around Iranian ports and near the Suez Canal. Some ports, such as China’s Shandong Port Group, had banned tankers under US sanctions from calling at their ports before the latest measures were announced.
Analysts say that the effect of these sanctions will support the tanker market due to reduced supply in the broader fleet, but they expect other exporters to make up for lost volumes. Average daily earnings for supertankers have jumped over 10% to around $26,000, with demand for non-sanctioned ships increasing as charterers secure vessels.
The tightening supply of ships is driven by increased demand for exports to India and China from outside Russia. As a result, traders expect to see rising rates for non-sanctioned tankers.
Source: https://www.reuters.com/world/dozens-oil-tankers-drop-anchor-after-latest-us-sanctions-bite-2025-01-13