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Urals STS Transfers off Ceuta Cease Since April

OIL

No ship-to-ship (STS) transfers of Russian Urals have occurred off the Spanish enclave of Ceuta since mid-April according to Bloomberg vessel tracking due to pressure from local authorities and EU restrictions.

  • Some of the activity has moved towards the Atlantic Ocean, near Cape Verde, the Canary Islands and the Azores.
  • Higher freight rates for smaller vessels has encouraged STS transfer onto larger vessels to make the journey towards Asian buyers in India and China.
  • The waters off Kalamata, Greece remain the most active site for the STS movement of Urals. Greek authorities have said their scope to intervene is limited.

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