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Free AccessSome Urals Cargoes to Asia Diverting from Red Sea
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.