“The tariff for the transportation of oil to China reached 7 million dollars, and before the introduction of US sanctions – 1.5 million dollars.”, — write: www.unian.ua
The tariff for the transportation of oil to China reached 7 million dollars, and before the introduction of US sanctions – 1.5 million dollars.
Chinese ports have become more careful in working with tankers / photo ua.depositphotos.comFees for the transportation of Russian ESPO oil to China have increased even more and are currently almost five times higher, compared to the level before the introduction of US sanctions against the Russian oil industry, writes Bloomberg.The tariff for transporting oil from the Pacific port of Kozmino in eastern Russia to China reached $7 million this week, said traders familiar with the route, who spoke on condition of anonymity because of the sensitivity of the subject. At the same time, last week the tariff was 5.5 million dollars, and before the introduction of US sanctions – 1.5 million dollars.
Chinese ports have become more wary of handling tankers under sanctions, undermining trade in ESPO oil as many vessels plying the route have been blacklisted. This prompted other tankers that previously served western Russian ports to relocate east and transport barrels of oil to China.
According to Kpler, one of the last tankers to join this route was the Legend vessel. It first loaded on January 20 at the port of Cozmino and is due to unload its cargo in the southern Chinese city of Huizhou. Previously, Aframax transported Urals oil from the western Russian ports of Ust-Luga and Primorsk.
Export of Russian oil – the latest news In 2024, the export of oil products from Russia by sea decreased by almost 10%. This was influenced by Ukrainian drone strikes that damaged major refineries, as well as rising financing costs and government bans on gasoline exports, which increased the pressure of Western sanctions.
At the same time, in 2024, China purchased a record amount of Russian oil. Supplies from the Russian Federation amounted to 108.5 million metric tons, or 2.17 million barrels per day.
On January 22, it became known that tankers, which previously transported oil from the western ports of Russia, were diverted to the east. This is necessary to serve a key oil transportation route to China, which has been affected by US sanctions.
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