Tankers bearing sanctioned Russian liquefied natural gas (LNG) have clustered together off Russia’s eastern coast, indicating that Moscow is struggling to sell the product amid Western restrictions, Bloomberg reported on Oct. 30.
Days before, commerical liquefication at Russia’s Arctic LNG 2 came to a halt due to shipping difficulties imposed by Western sanctions.
Three of the tankers now anchored near Russia previously loaded cargo from the Arctic LNG 2 facility. The vessels — Nova Energy, Pioneer, and Asya Energy — are docked near the port of Nakhodka, according to ship-tracking data compiled by Bloomberg.
.15% per day adds up pretty quick
Assuming 0.125%, it’s very roughly 10% of the original total every three months for the first year
Thing is, your profit margin isn’t 100%, and this is gonna eat into this.