Russia oil exports uninterrupted by escalation in Houthi attacks
At least three tankers laden with Russian crude were transiting the southern Red Sea region on January 10 destined for China and India, data from Vortexa shows
Red Sea vessel activity is down 28% over past seven days reflecting containership exodus around the Cape of Good Hope, with few diversions seen for tankers and bulk carriers
TANKERS shipping Russian oil to India and China via the Suez Canal and Red Sea continue uninterrupted, amid intensifying attacks from Houthis in the Bab el Mandeb Strait that has prompted the rerouting of the majority of east-west container traffic.
Vortexa data indicates that no tankers loading crude and oil products at Russia ports since December and bound for refineries in India or China have diverted via the Cape of Good Hope.
Three tankers laden with Russian crude are transiting through the risky waters in the southern Red Sea as of 1400 hrs GMT on Wednesday, according to information provided by the London-based commodities data analytics provider.
The ships are aframaxes HS Everett (IMO: 9410870) and Khalissa (IMO: 9388780) that loaded at Ust-Luga, while suezmax Besiktas Bosphorus (IMO: 9290373) loaded in Murmansk, Vortexa data shows.
Some 44 tankers transported 1m barrels per day of oil or oil products via the key trade artery that links the Mediterranean with Asia, destined for China and India in December.
Tankers called at Russian Baltic, Black Sea and Arctic ports last month with figures excluding Kazakh grades and CPC blends from the Black Sea port of Novorossiysk.
Only crude, fuel oil, jet fuel, diesel and gasoil was tracked, which comprise the majority of Russia oil exports.
Of tankers that loaded from these ports in the first 10 days of January, Vortexa predicts that 13 are sailing for India and China. Vessel-tracking indicates these vessels are also destined for Red Sea transits, based on Automatic Identification System signals.
By the first week of January, Red Sea vessel activity (for cargo-carrying ships over 10,000 dwt) had dropped 28% year on year, Lloyd’s List Intelligence data shows, reflecting the exodus in container traffic that began in mid-December.
Data indicates little interruption to tanker and bulk carrier traffic, reflecting charterparty and legal considerations as well as risk appetite, geopolitics, insurance costs and arbitrage economics that are driving decision-making.
Container lines are also able to recoup diversion costs via surcharges, an option that may not be available to other owners and operators.
Up to 8.2m bpd of oil and oil products transits the Red Sea via the Bab el Mandeb chokepoint, according to Vortexa analysis. This included southbound Russian crude destined for Asia and India, as well as northbound diesel and jet fuel from the Middle East Gulf for delivery to Europe and the Mediterranean.
Between December 16 and January 4, the US Navy said it had shot down 61 missiles and drones, while 1,500 commercial vessels had safely transited the Red Sea.
Yesterday, January 9, UK and US military participating in Operation Prosperity Guardian taskforce said some 18 drones, two anti-ship cruise missiles and one anti-ship ballistic missile were shot down.
The taskforce was established on December 18 in response to escalating Houthi attacks on commercial shipping which the Iran-sponsored group launched in protest at Israel’s war in Gaza.
