Latest News

LSEG data shows that Turkey and Brazil are the top two buyers of Russian diesel.

Data from market sources and LSEG revealed that Turkey and Brazil remained as the two main importers of Russian seaborne gasoil and diesel last year despite the European Union's import ban on Russian refined products.

Before the full EU ban came into force in February 2023 Europe was Russia's largest buyer.

According to LSEG, the export of diesel and gasoil from Russian ports to Turkey increased by a quarter in 2023 from 16.8 million metric tones.

Shipping data shows that Russian diesel exports from Brazil will reach 7.4 million tonnes in 2024. This is an increase of 15% over the previous year.

Exports of diesel and gasoil from Russian ports to African nations exceeded 9,6 million tons last year. However, they were down 6% since 2023.

According to LSEG data, Egypt, Libya Tunisia Ghana and Senegal ranked among the top importers.

According to traders and shipping data, the December 2024 exports of Russian gasoil and diesel increased by almost 18% compared to the previous month, reaching 3.4 million tonnes. This was due to the rising fuel production, and the seasonal slowdown in demand on the domestic market.

Turkey and Brazil are the two main importers with 1.2 million tonnes (-12% from November) and 0,53 million tonnes (+32% from Novembre), respectively.

While traders are reporting the increased diesel volume shipped via STS transfers near the Italian Port of Augusta and Greek Islands.

Traders said that STS loadings are also more attractive due to recent Western sanctions against the tanker fleet.

Tankers carrying approximately 370,000 tons Russian diesel bound for transfer ship-to-ship were seen in December. Their final destinations are not yet known.

The U.S. imposed new sanctions on Russia last week. They targeted more than 180 ships and insurance companies. This move could lead to an increase in ship-to-ship activities, according to market sources.

(source: Reuters)