Sanctioned Tanker Discharges Russian Oil in China After Extended Journey
An Aframax tanker sanctioned by the US has unloaded Russian oil in Tianjin, China, after an unusually lengthy voyage. The Huihai Pacific, which had been bound for Shandong province, a hub for independent Chinese refineries, altered its course due to a directive from Shandong Port Group Co. forbidding sanctioned vessels.
The tanker spent nearly four weeks at sea, significantly longer than the typical journey from Russia's Kozmino port to China. This highlights the disruptions caused by the US sanctions, which were imposed on 70% of the fleet serving Kozmino on January 10th.
Before the sanctions, China's independent refineries were major buyers of Russian ESPO and Sokol crude due to their proximity and price advantage. Now, they may face higher transportation costs to continue importing this oil.