Russian oil product exports to Asia via Africa surged to a record high in July as shippers avoided the Red Sea due to security concerns.
Russia n exports of petroleum products to Asia via the southern tip of Africa nearly doubled in July from a month earlier to hit an all-time high, according to LSEG shipping data reported by Reuters. Last month, Russia ’s shipments of fuels via the Cape of Good Hope en route to Asia jumped to a record-high volume of 1.1 million metric tons, as more tankers took the longer route instead of the Suez Canal , per the data.
Most of Russia’s exports to Asia via Africa consisted of naphtha, while the remainder were fuel oil from the Russian ports on the Baltic Sea and low-sulfur diesel from the port of Primorsk, also on the Baltic, according to market sources and shipping data cited by Reuters. Russia’s markets in Asia were Singapore, Taiwan, India, and China, per the LSEG data.
Oil Exports Asia Africa Cape Of Good Hope Suez Canal Houthis Sanctions Refinery Repairs Naphtha
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