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Russia Sends Rare Crude Cargo Via Artic Sea to China

OIL

Russia is sending a rare cargo of crude oil through the Arctic Sea to China, the first cargo since 4Q22, Bloomberg ship tracking data showed.

  • The Aframax-class tanker Primorsky Prospect, carrying around 730,000 barels of Urals crude is heading to Rizhao China from the Baltic port of Ust-Luga. The cargo loaded on 11-12 July.
  • Using the so-called Northern Sea Route through the Arctic waters off Russia’s northern coast, is reducing the voyage time by around 30% compared with the southern route through the Mediterranean and the Suez Canal.
  • However, organizations including the UN’s intergovernmental body for climate change have said doing so could have negative consequences for the region, including higher emissions and threats to marine ecosystems.
Energy BulletsCommodities
Energy BulletsCommodities

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