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Russian Urals Crude Suppliers Resume STS Transfers

OIL

Russian Urals grade suppliers have resumed ship to ship transfers in the Mediterranean after easing freight rates last summer prompted Russian oil exporters to halt STS operations according to Reuters.

  • In addition to the previously reported Ligeria VLCC that facilitated an STS transfer near the Kalamata port late in January, the Gabon-flagged Marathon vessel also reloaded some 700,000 barrels of Urals onto a Panama-flagged vessel near the Greek port on 25 January, Kpler data showed.
  • Traders expect more Russian oil tankers do STS transfers this month amid increasing security risks in the Red Sea and weather conditions.
  • "Weather issues mean a longer time for passing the Turkish straits, while ice class vessels are needed in the Baltics, so many choose to do transshipment to keep vessels in the region," a trader told Reuters.
Energy BulletsCommodities
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