The European Union and UK insurance bans on Russia-linked shipping will weigh on bunker demand and shift the geography of the business at a time when changing oil flows are already affecting ports’ market share, Dubai-based bunker supplier Glander International CEO Carsten Ladekjaer said. Russia is traditionally a key provider of fuel oil to the bunker industry, especially 3.5% sulfur fuel oil, but following sanctions on Russian barrels in the wake of Moscow’s invasion of Ukraine some companies are looking to avoid dealing with Russian counterparties. This is making availability of fuel at some ports more troublesome, while at others it is more readily available than previously.
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