Oil cargo shipments from Russia’s Baltic Basin ports fell to 72.5 million tonnes in 1H’20
Handling of oil products increased while handling of crude oil fell down
IAA PortNews’ Analytical Department says that oil cargo shipments from Russia’s Baltic Basin ports fell to 72.5 million tonnes in 1H’2020. According to the statistics, handling of crude oil fell by 11% to 34.9 million tonnes while handling of oil products increased by 13% to about 37.6 million tonnes.
Thus, turnover of oil products exceeded that of crude oil with the previous year showing a different result.
Oil handling in Ust-Luga fell by 14%, in Primorsk – by 10%.
Meanwhile, handling of oil products by Big Port St. Petersburg has increased by a quarter with the same increase demonstrated by oil products segment in Primorsk. Turnover of oil products in Ust-Luga grew by 6%, in Vysotsk – by 1%.
The volume of shipments was affected by the global oil market situation, tax maneuver and filling of oil storage tanks worldwide. In the foreseeable future, turnover of oil cargo in the Baltic Basin can be affected by the situation in Belarus and the plans of country's leadership to redirect its cargo flows to the ports of Russia.