“The cost of transporting Russian ESPO oil to China has risen sharply, reaching an almost fivefold increase compared to the level before the introduction of the latest US sanctions against the Russian Federation.”, — write: epravda.com.ua
The cost of transporting Russian ESPO oil to China has risen sharply, reaching an almost fivefold increase compared to the level before the introduction of the latest US sanctions against the Russian Federation. This is reported by the Bloomberg agency. 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. For comparison, the tariff was $5.5 million last week, and only $1.5 million before the US sanctions. Chinese ports have become more cautious in dealing with tankers under sanctions, destabilizing the ESPO oil trade as many vessels using the route have been blacklisted.Advertisement: This has forced other tankers that previously served western Russian ports to reroute. its routes to the east to transport oil to China. One of the last tankers to join this route was the Legend vessel. It loaded at the port of Cozmino for the first time on January 20 and is due to unload its cargo in the southern Chinese city of Huizhou, according to Kpler. Previously, Aframax transported Urals oil from the Russian western ports of Ust-Luga and Primorsk. We will remind:Advertisement: Sources of oil purchases by the state-owned Indian Oil Corp may change due to new US sanctions against Russia, which affect supplies from Moscow: India’s largest oil refiner is now forced to look for alternatives.