In response to the price cap and sanctions on Russian crude oil, Turkey requires all passing oil tankers to show proof of insurance. This regulation affects the flow of ships along the coast of Turkey and between Russian Black Sea ports and the Mediterranean Sea, and the number of ships waiting to pass continues to increase. .
Ship-tracking website MarineTraffic said 35 ships, including nine Russian-flagged tankers, have left Russia since the oil price cap and the EU ban hit the roads this week.
Adil Ashiq, MarineTraffic regional director for the West US, said all ships leaving the Black Sea and headed for the Bosphorus are almost fully loaded, with most of the crude headed for Turkey, followed by Greece, Italy and India.
According to MarineTraffic, 16 ships (non-Russian flag) are currently awaiting insurance clearance, and the number is expected to continue to increase.
According to data from shipping data provider VesselsValue, the average waiting time for oil tankers in the Bosphorus Strait has increased by 47% from last week. The average waiting time last week was 64 hours, with a total tonnage of 1.46 million tons.
The Bosphorus and Dardanelles are the main routes for the transportation of crude oil and other commodities in the Black Sea. After the Russian oil price cap came into effect, Turkish authorities required all tankers passing through to show proof of insurance, which caused congestion in the Turkish sea.
U.S. and British officials are calling on Turkey to reconsider the certification requirement, especially since crude from Kazakhstan is not subject to sanctions, but so far no progress has been made.
Graham Close, senior analyst at VesselsValue analysts, said that as the sanctions last longer, congestion in the north and south of the Bosphorus and areas around the Dardanelles may also increase for the same reason.
