Russia Boosts Seaborne Diesel Exports 12% MoM In March

Russia increased its seaborne diesel exports by 12% month on month in March to 4.5mn tonnes, Refinitiv data showed.

• Turkey remains the top destination for Russian diesel and gasoil supplies, with its shipments almost doubling last month to about 1.6mn tonnes, according to Refinitiv data.
• About 0.5mn tonnes of those volumes are still on the water from Russia’s Baltic exports.
• Diesel loadings from Russian ports to Brazil and UAE trading hub Fujairah totalled about 300,000 tonnes each in March, up 12% and 51% respectively month on month.
• Russia sent about 66,000 tonnes of diesel to Saudi Arabia last month against 485,000 tonnes in February, but some volumes could also have been exported via ship-to-ship (STS) loadings.
• Diesel supplies from Russian to African countries increased to a collective 1mn tonnes, with Libya, Tunisia, Nigeria, Ghana, Togo, Senegal and Morocco among destinations.
• About 0.7mn tonnes of March diesel loadings from Russia are heading to STS or have no exact destination.
• Around 2.5mn tonnes of diesel loaded in March from Russian-controlled ports is still in transit and could yet change its destination.
• Russia plans to reduce seaborne diesel exports in April as refineries start spring maintenance according to Bloomberg.