According to Vortexa, the latest round of US sanctions adds 77 aframaxes and 25 suezmaxes to the Ofac list, designating much of Russia’s primary crude fleet.
Panama-flagged Mermar is the first Ofac-designated tanker to have been allowed to dock at a port in Shandong since the sweeping sanctions on Russian oil trade imposed by the US last Friday. Washington has authorised transactions necessary for these vessels to complete discharge by February 27 according to Lloyd’s List
Lloyd’s List understands Mermar, carrying about 755,000 barrels of crude from the Russian Far East port of Kozmino, was allowed to call at the port as it was within the Ofac grace period. The port group has been approached for comments.
Biggest blow to Russian oil trades
It is noteworthy that the first US-sanctioned tanker has been tracked entering a port in Shandong, following the Chinese province’s ban on such vessels as well as Washington’s latest designations in its biggest blow yet to Russian oil trades last week.
The Panama-flagged aframax Mermar (IMO: 9231212) docked at Longkou on the northern Shandong Peninsula on January 15, having waited at anchorage for four days, according to vessel tracking data.
The ship was among the nearly 160 tankers and other entities sanctioned by the US Treasury Department’s Office of Foreign Assets Control on January 10 for involvement in trading Russian oil.
The first time
On the other hand the U.S. has sanctioned six Russian oil tankers that are still being built. This is the first time the U.S. has ever sanctioned ships before they’ve even set sail.These sanctions were announced last week and have already increased shipping costs worldwide
Six tankers being built
A review of the sanctions shows that six tankers being built at Russia’s Zvezda shipyard are affected. The tankers include Alexander Beggrov, Alexey Bogolyubov, and Nursultan Nazarbayev.Three others, called Zvezda 131080, Zvezda 131060, and Zvezda 131040, have not yet been named.The sanctions target two Russian companies: Sovcomflot, which is the shipping arm of Rosneft, and Rosnefteflot, another part of Rosneft.
Russia’s “shadow fleet
The U.S. sanctions are aimed at Russia’s “shadow fleet,” a group of ships used to avoid a price cap on Russian oil set by the G7 countries.This cap, which started in late 2022, bans Western insurers and shipping companies from handling Russian oil sold for more than $60 a barrel.
According to recent shipping data, Russia is already facing a shortage of tankers to transport its oil. More than 60% of the oil tankers listed have recently entered Russian ports. This tanker shortage has already led to a big increase in global shipping rates.
Zvezda, is Russia’s leading shipyard
Zvezda, established in 2015, is Russia’s leading shipyard and the only one able to build large oil and gas tankers. Last week, Zvezda itself was also sanctioned by the U.S., adding more pressure to Russia’s oil shipping operations.
According to Vortexa, the latest round of US sanctions adds 77 aframaxes and 25 suezmaxes to the Ofac list, designating much of Russia’s primary crude fleet.
