Unipec, China’s biggest oil trader, has moved to charter a fleet of at least 10 tankers to haul Russian crude into China. The information comes from people familiar with the matter and was reported by Bloomberg.
The company, formally known as China International United Petroleum & Chemical Co., secured contracts for a minimum of ten tankers in May to carry ESPO-grade oil from Russia’s Kozmino port in Primorsky Krai, according to an agency source cited by the news outlet.
Industry observers note that May’s bookings represent roughly a fivefold increase from the prior month. Unipec did not respond to requests for comment on the shipments or the strategy behind the surge in tanker demand.
Bloomberg reported on May 26 that China intends to take delivery of almost all oil routed via the ESPO pipeline in May. The piece highlighted a broader trend: as fewer shipowners are willing to transport Russian crude, buyers are exploring inventive logistical approaches. Among these are the deployment of smaller vessels and those with later reloads as part of the supply chain adjustments. These measures aim to maintain steady inflows despite tighter shipping capacity and a more cautious market environment.
Analysts point to the ESPO pipeline, known formally as the Eastern Siberia – Pacific Ocean line, as a critical corridor for the flow of Russian crude to Asian markets. The Kozmino terminal has historically served as a key loading point for ESPO blends, and the current chartering activity underscores how buyers and traders are adapting to shifting risk and availability in the global shipping fleet.
Observers emphasize that the strategic calculus for Chinese buyers involves balancing price, reliability, and security of supply. The March–May timeframe has seen a noticeable uptick in long-term transport arrangements, suggesting a cautious approach to ensure continuous access to Russian oil amid broader international sanctions discussions and shifting Western shipping policies. The result is a more intricate logistical puzzle, with traders leveraging multiple vessel types and scheduling patterns to optimize throughput while mitigating potential disruptions. Attribution: Bloomberg