In December 2022, six little-known companies from Hong Kong and Dubai entered the first oil transport market from Russia. In this respect informs Bloomberg agency.
Small companies from China and the UAE transported a total of 1.4 million barrels of oil per day. Such volumes turned out to be much higher than those carried by trade giants Trafigura Group or Vitol Group before the anti-Russian sanctions were imposed. At the same time, it is still unknown how exactly small companies are able to finance the supply of at least $2 billion per month.
The publication stated that Nord Axis, registered in Hong Kong in February 2022, was the largest supplier in December. On average, the company bought about 521 thousand barrels of oil per day. In second place is Tejarinaft in Dubai, which carries 244,000 barrels of oil per day. The top three leaders, who bought about 199,000 barrels per day, closed QR Trading.
According to the agency, due to the tightening of Western sanctions, Russia has begun to expand its shadow tanker fleet, which now has about 600 ships.
March 17 Bloomberg cites Vortexa, Kpler and ship tracking data reportedRecently, it has become more difficult for Russian oil suppliers to find buyers against the backdrop of tougher international sanctions, including a ban on the sea transport of raw materials from the Russian Federation and the establishment of a price “ceiling”. As a result, tankers with resource cargo began to accumulate in anticipation of buyers.