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Some Urals Cargoes to Asia Diverting from Red Sea

OIL

At least three tankers of Russian Urals oil chose to take the longer route via the Cape of Good hope in March and April as military risks from Houthi attacks in Red Sea remain high, Reuters said, cited by XM.

  • Two tankers, the Fos Picasso and Hydra, carrying 200k mt of Urals, went to India via the Cape of Good Hope.
  • Most vessels carrying Urals continue to transit via the Suez Canal, XM added.
  • Some ships specifically signal “Russian crew onboard” to avoid a missile attack.
  • In April, India remained the largest destination for Urals crude, the destination for 60% of last month’s loadings.
  • Turkey was the second largest destination, taking around 15% of cargoes.
  • Total Urals loadings in April from Russia’s Western Ports were around 8.7m mt, XM said.

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