Russian tanker operators lift crude exports to highest level since G7 price cap
Russia increased crude exports in September by relying more heavily on non-G7 tankers, particularly those operated by domestic companies, whose shipments reached their highest level since Western nations imposed a price cap. Tankers flagged, owned and operated by companies not based in G7 countries and their allies, and not insured by Western protection and indemnity ...
Russia lifted its crude oil exports to their highest level since G7 price caps in September, with non-G7 tankers playing a significant role. Domestic companies, including state carrier Sovcomflot, reported the highest shipments on record, with 6.4 million barrels loaded in September. Overall Russian seaborne exports rose to 4.09 million barrels per day, up from 3.82 million b/d in the previous month.
Despite a slight change in the overall share of Russian crude exports on non-G7 tankers, these vessels continued to shoulder most of the responsibilities for the country's overseas sales. The International Maritime Organization has been addressing falsified flag registrations, with some member states removing over 110 ships with a combined carrying capacity of 9.78 million deadweight tons from their registries.
The sanctions have also impacted the G7 fleet, with Greek-operated tankers loading more barrels in September, but market conditions suggest limited financial incentives for mainstream companies to remain involved in Russian trade.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
