The high cost of sea transportation increased the ship-to-ship transfer of Russian oil

According to the report of Fars International Economic Group, Bloomberg wrote, referring to the statistics of oil tankers, that the transfer of Russian oil from ship to ship has recorded an unprecedented stagnation at the beginning of January amid the increase in transportation costs due to the sanctions of the European Union.

Ship-to-ship transfer (STS) is a common method of oil trade and is usually used to transfer crude oil or petroleum products from large ships to smaller ships at sea.

According to this news agency, five giant oil tankers known as VLCCs, which are the largest vessels in the oil industry, have so far participated in the transfer of the vessel to the Ural oil vessel.

According to the tracking statistics of oil tankers, in general, 19 million barrels of oil have been transferred to Ural Rusbeh in the months of December and January. The ship to ship transfer figure in January has reached a record of 14 million barrels.

Following Western sanctions on Russian oil exports, sea transportation is considered a more cost-effective way to deliver Russian oil to customers.

The ban on Russian oil shipments, along with setting a price ceiling of $60 for them, was implemented by the European Union, Group of Seven and Australia on December 5. . Another embargo, banning almost all imports of Russian oil products, will begin on February 5.

These measures have increased the costs of sea transportation, including insurance, and have led to a shortage of ships. At the same time, ships that participate in ship-to-ship transfers at sea are allowed to receive insurance services if their oil cargoes are purchased at a price below $60.

Important points for ship-to-ship transfers are places such as the city of Ceuta on the North African coast and the Greek port of Kalamata. Satellite tracking data shows that most of Russia’s Urals crude oil goes to Asia from the city of Ceuta.

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