Russia diesel exports to Brazil, Turkey and Africa seen hitting new high – traders, Refinitiv data

Russia diesel exports to Brazil, Turkey and Africa seen hitting new high – traders, Refinitiv data

27 Mar    Finance News, PMN Business, REU

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MOSCOW — Russia’s diesel and gasoil shipments to Brazil, Turkey and Africa were heading to new record highs in March as traders pushed into new markets following an EU ban on Russian oil products, according to traders and Refinitiv data.

A full EU embargo on Russian oil products went into effect on Feb. 5, sending Russian diesel cargoes to Africa, Asia, the Middle East and ship-to-ship (STS) loadings instead of to Europe.

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According to Refinitiv data, diesel and gasoil shipments from Russian Baltic and Black Seas ports to Turkey have already exceeded 1.2 million tonnes in March, topping the 0.8 million tonnes recorded the month earlier.

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Russian Baltic ports have sent at least 300,000 tonnes of diesel to Brazil this month, more than the 205,000 tonnes for all of February, the figures showed.

And Russia has also increased diesel supplies to African countries, market sources added.

“Africa will apparently take significant volumes (of Russian diesel),” one trader said.

According to Refinitiv data for March, about 200,000 tonnes of diesel from Russian-controlled ports were shipped to Libya, about 165,000 tonnes to Algeria and 100,000 tonnes to Tunisia. Other recipients included Nigeria, Ghana, Senegal and Morocco.

About 200,000 tonnes of diesel from Russian ports are due to reach Fujairah in the United Arab Emirates this month, the data showed.

Last month Russia sent at least 450,000 tonnes of diesel to Saudi Arabia, including some shipped via STS near Kalamata port – though no such cargoes have been recorded on this route so far in March.

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Records for about 0.7 million tonnes of diesel loaded in March in Russian Black and Baltic Seas ports gave no specific destination, according to Refinitiv data. (Reporting by Reuters; editing by Andrew Heavens)

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