After US sanctions, the cost of transporting Russian oil to China has increased fivefold
The cost of transporting Russian ESPO oil to China has increased sharply, increasing almost five times compared to the level before the introduction of the latest US sanctions against the Russian Federation. About this informs Bloomberg.
The tariff for the transportation of oil from the port of Kozmino in the Far East of Russia to China reached $7 million this week. For comparison, last week it was $5.5 million, and before the US sanctions it was only $1.5 million.
The tightening of restrictions has made Chinese ports more cautious in dealing with tankers that have been hit by sanctions, disrupting the stability of the ESPO oil trade. Many ships that used to use the route were blacklisted, forcing other tankers that used to serve western Russian ports to change their routes and take up oil shipments to China.
Among the new participants of the route was the vessel “Legend”, which loaded oil for the first time in the port of “Kozmino” on January 20. It plans to deliver the cargo to the southern Chinese city of Huizhou, according to Kpler. Prior to that, the ship “Aframax” transported Urals oil from the Russian ports of Ust-Luga and Primorsk.
