Argus launches freight rates for Russian petroleum products exports

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Aug 14, 2023, 11:30 ET

LONDON, Aug. 14, 2023 /PRNewswire/ -- Global energy and commodity price reporting agency Argus has launched clean tanker freight assessments for exports of Russian petroleum products from the Black and the Baltic Seas on key international routes.

The EU's ban on seaborne imports of Russian petroleum products and the accompanying G7-led $100/bl price cap for gasoline and gasoil and $45/bl for naphtha and fuel oil has resulted in significant changes in trade flows. Since the ban came into effect on 5 February, Russian refined products have moved much further afield, to a different group of buyers, many of whom are at a considerable distance from the previously core European market.

Argus' new assessments bring transparency to these often opaque trade flows with the publication of freight rates on the following routes:

Russian Black Sea to west Africa
Russian Black Sea to Mediterranean
Russian Black Sea to Mideast Gulf
Russian Baltic to west Africa
Russian Baltic to Mediterranean
Russian Baltic to Brazil
Russian Baltic to Mideast Gulf
Russian Baltic to Singapore
Russian Baltic to west coast India

The weekly assessments are underpinned by Argus' market survey methodology, which relies on deals, bids, offers and other information collected from the market. They reflect shipping rates for both mainstream and so-called "shadow" fleets.

Argus Media chairman and chief executive Adrian Binks said: "Our new Russian-origin clean tanker freight assessments provide the market with important information, which enables companies to track and analyse the pricing and competitiveness of Russian refined oil products in the international market."

The launch of Russian oil product freight prices follows Argus' launch of freight assessments for Russian crude oil exported from the Black, Baltic and Barents Sea regions in April. These rates show the costs of delivering Russian crude to India and China and highlight the "sanctions premium" for this trade.

Argus contact information

London: Seana Lanigan
+44 20 7780 4200
Email Seana

Houston: Matt Oatway
+1 713 968 0000
Email Matt

Singapore: Tomoko Hashimoto
+65 6496 9960
Email Tomoko

About Argus Media

Argus is the leading independent provider of market intelligence to the global energy and commodity markets. We offer essential price assessments, news, analytics, consulting services, data science tools and industry conferences to illuminate complex and opaque commodity markets.

Headquartered in London with 1,300 staff, Argus is an independent media organisation with 29 offices in the world's principal commodity trading hubs.

Companies, trading firms and governments in 160 countries around the world trust Argus data to make decisions, analyse situations, manage risk, facilitate trading and for long-term planning. Argus prices are used as trusted benchmarks around the world for pricing transportation, commodities and energy.

Founded in 1970, Argus remains a privately held UK-registered company owned by employee shareholders, global growth equity firm General Atlantic and Hg, the specialist software and technology services investor.

SOURCE Argus Media