Russian-origin fuel avoided in the face of reputational risk Russian companies face problems securing credit Bunkering operations move away from Russia As Russia’s war in Ukraine deepens, bunkering activity has moved away from Russia as shipowners avoid Russian-origin cargoes and Russian companies are unable to secure letters of credit. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now With bunker prices reaching record highs, and volatility increasing across global oil markets in the wake of Russia’s invasion of Ukraine, there is a major shortage of 0.5%S and marine gasoil cargoes in the Black Sea region. This has been driven by companies self-sectioning to avoid reputational damage from taking Russian-origin products. “Companies are avoiding Russian-origin cargoes for many reasons. They face significant reputational risk and a lot of cargo purchasers are not keen to take that risk. There is also the threat of potential […]