Three Greece-owned tankers laden with Russian fuel oil divert from Red Sea transits
Diversions are among the first seen for Russian oil trade flows, which until now had continued going south through the Suez Canal to the Red Sea and Gulf of Aden for voyages to China and India
Options, such as ship-to-ship transfers to larger very large crude carriers to go around the Cape of Good Hope, are now being discussed for further Russian charters, says commodities an data analytics provider Vortexa
THREE Asia-bound, Greece-owned tankers laden with Russia fuel oil are diverting around the Cape of Good Hope, after reversing course while sailing in the Mediterranean for the Suez Canal and Red Sea.
Aframax tankers Alkinoos (IMO: 9792864), operated by Capital Ship Management Corp and owned by Marinakis Group of Companies, Nissos Christiana (IMO: 9694658) from Kyklades Maritime Corp, and Minerva Zoe (IMO: 9800568), operated by Minerva Marine Inc from Andreas Martinos and family, all changed course over the past three days.
The tankers all loaded cargoes at Russian Baltic Sea ports, vessel-tracking shows. They are among the first diversions seen for laden Russian cargoes since Houthi attacks on commercial shipping in the Red Sea intensified in the New Year.
Many Suez-bound tankers in the Mediterranean Sea or Indian Ocean paused at deviation points mid-voyage in the immediate aftermath of the US and UK January 12 military strike on Houthi targets on January 12, in what was defined as a wait-and-see approach.
The Greek shipowners appear to be following advice to avoid the area. After sailing and waiting for several days at the mouth of the Suez Canal, at least two reversed course and are heading for the Strait of Gibraltar, vessel tracking shows.
Options for Russian cargoes being chartered from the Baltic and sailing for India or China, the biggest buyers, are now being discussed, according to Vortexa, which first reported the diverted cargoes.
The London-based commodities and data analytics provider said ship-to-ship transfers to larger very large crude carriers, or West Africa discharges were being considered for Russian trade flows that no longer transited the Red Sea.
This would increase freight and delivery costs and make Russian oil less competitive, according to Vortexa.
Greece-owned tankers comprised about 34% of tankers calling at Russian Baltic and Black Sea ports in December, according to vessel-tracking data compiled by Lloyd’s List.
Tankers that are defined as being part of the dark fleet were 43% of tanker callings at five key export ports where crude, fuel oil and refined products were loaded.
Russian crude is still flowing through the Red Sea to Asia, according to Vortexa.
China and Indian imports of crude and condensate fell in the first half of January, while shipments from Saudi Arabia increased, a move likely reflecting intensifying regulatory scrutiny by the US, UK and EU over sanctions circumvention.
Vortexa said that 43 tankers have diverted around the Cape of Good Hope to avoid transiting the Red Sea and Gulf of Aden since January 12.
Lloyd’s List Intelligence data recorded 58 crude tankers recorded 58 crude tankers over 10,000 dwt passing Bab el Mandeb for the week ending January 21. That compared with 55 the prior week and 67 in the final seven-day period before the end of 2023.
Product tanker transits have shown a greater drop, to 37 ships for the second and third weeks of January from 70 over the Christmas and New Year period. The fall reflects the reluctance of charterers to make northbound transits with cargoes of middle distillates to Europe and the UK, which typically have commercial ties to the area, and therefore are viewed as being at higher risk of Houthi attacks.
