Russian oil sent to Asia in Chinese supertankers amid ship shortage

Russian oil sent to Asia in Chinese supertankers amid ship shortage

1 minute, 59 seconds Read

Russia turns to Asia

Russia is sending the supertankers Lauren II, Monica S, Catalina 7 and Natalina 7 to Ural for transshipment from its western ports, all Panama-flagged ships bound for China, while Sao Paulo is in the sea, according to three trade sources and Econ data. Already coming to India. ,

Based on Eikon data and public marine databases, Lauren II is managed by Greeti Co., Ltd. of China and owned by Macy Ltd. of China, Catalina 7 is owned by Kens Venetici Ltd. of Hong Kong and Natalina 7 is owned by Hong Kong Astrid Menx Ltd., both managed by Runne of China. Co Ltd, while Monica S is owned by Gabriel Ltd of China and managed by Derector Co Ltd. Sao Paulo is owned and managed by Cyprus-based Rotimo Holdings Limited.

Reuters was unable to immediately contact the owners and managers due to a lack of public information about them.

The executive of the Chinese firm involved in the shipment estimated that a total of 18 Chinese supertankers and another 16 Aframax-sized vessels could be used for shipping Russian crude in 2023, amounting to 15 million tonnes per year, or about half of total Ural exports. About 10% is sufficient for transportation. ,

A VLCC can carry up to 2 million barrels, a Suezmax vessel up to 1 million barrels and an Aframax up to 0.6 million barrels.

While most Russian crude is now headed to China, India and Turkey in Russian or non-Western ships, G7 sanctions have led to a shortage of smaller Ice-class tankers – many belonging to Greek and Norwegian companies – to Russia on its own. From the ports of the Baltic Sea in winter it was necessary to transport crude oil.

According to traders, Russia and China do not have a large fleet of Ice-class ships and using Chinese VLCCs frees them up to travel through Baltic ports.

The exercise is shown in Eikon tracking data, covering the international waters of the Mediterranean, with the executive highlighting operations near Ceuta, a Spanish autonomous city on the northern coast of Africa, and Greece’s Kalamata, a city on the Peloponnese peninsula in southern Greece.

“It is too expensive and there is no point in using Ice-class tankers for long distances,” said a European market trader, explaining why VLCCs were being used.

Another trader said the Ukraine war and sanctions had pushed up demand for smaller tankers and reduced rates for larger vessels, helping Russia recoup some of the additional costs.

2125 Total Views 1 Views Today
Spread the love

Similar Posts