Despite sanctions: Russian oil supplies to China are ongoing

A number of companies continue to transport Russian oil from the Far Eastern port of Kozmino to China, despite the sanctions of the West, Bloomberg reports.

According to the publication, this route is extremely beneficial for the owners of tankers and brings them a profit three times more than before the start of the war in Ukraine. “Shipowners can receive about $ 1.6 million per flight of one small tanker loaded with ESPO (Eastern Siberia Pacific Ocean, Eastern Siberia – Pacific Ocean) from the Far Eastern port of Kozmino to China. Profitable transportation became the usual business for tankers from China , Turkey and Greece, ”the statement said.

The publication explains that Aframax type tanker can transport about 730 thousand barrels of raw oil. The path from the Russian port to Chinese takes about five days, and on the return route the downtime is practically reduced to zero, which “increases the coefficient of use of the vessel and profit.” As the agency notes, “recently, almost all the export of oil of the ESPO variety is in China”, a number of tankers should also be from Russia to India.