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'Pop-up' traders chipping half Russia's oil to China and India
来源：shippingazette 编辑：编辑部 发布：2023/08/08 09:07:20
THIS year, there has been a surge in shipments of Russian oil by obscure firms, often involving transactions at sea and the use of older Liberian-flagged vessels, reports Reuters.
These cargoes are primarily bound for China and India. In recent months, Moscow has increasingly relied on these little-known trading firms to export significant volumes of crude to Asian markets.
The shift comes as established oil majors have ceased carrying Russian crude due to sanctions imposed on the country during its war with Ukraine.
Many of these lesser-known firms are based in Hong Kong and frequently employ Liberian-flagged tankers to transport large quantities of Urals crude.
Interestingly, some of the cargo changes ownership enroute to its final destination.
For example, in May, a relatively unknown company called Guron Trading acquired ownership of 100,000 tonnes of Urals crude transported by the tanker Leopard I, destined for India.
As a result of the sanctions and the withdrawal of major oil firms and commodity houses from Russian business, at least 40 middlemen have been involved in Russian oil trading between March and June.
Surprisingly, some of these companies had no prior history or involvement in the oil trading business.
The information was gathered from conversations with 10 trading sources, insights from analysts at the think-tank Kpler, and data analysis from Refinitiv and the non-public records of shipping companies.
These cargoes are primarily bound for China and India. In recent months, Moscow has increasingly relied on these little-known trading firms to export significant volumes of crude to Asian markets.
The shift comes as established oil majors have ceased carrying Russian crude due to sanctions imposed on the country during its war with Ukraine.
Many of these lesser-known firms are based in Hong Kong and frequently employ Liberian-flagged tankers to transport large quantities of Urals crude.
Interestingly, some of the cargo changes ownership enroute to its final destination.
For example, in May, a relatively unknown company called Guron Trading acquired ownership of 100,000 tonnes of Urals crude transported by the tanker Leopard I, destined for India.
As a result of the sanctions and the withdrawal of major oil firms and commodity houses from Russian business, at least 40 middlemen have been involved in Russian oil trading between March and June.
Surprisingly, some of these companies had no prior history or involvement in the oil trading business.
The information was gathered from conversations with 10 trading sources, insights from analysts at the think-tank Kpler, and data analysis from Refinitiv and the non-public records of shipping companies.