An anonymous trader from China spent $376 million on a “fleet” for Russian oil

The mysterious Chinese merchant has spent some $376 million on 13 tankers to carry Russian oil from ship to ship across the Atlantic. More about this told the analyst of the publication Business Insider Phil Rosen, reports PolitRussia.

Data from Lloyd’s List Intelligence show that the buyer purchased five Aframax tankers, seven large oil tankers and one Suezmax vessel. To do this, he used the method of procurement between Hong Kong and China. It is worth noting that all 13 ships are connected to the same office building in Dalian (PRC).

“The fleet is the core of a new transshipment hub for the delivery of Russian oil. The node is located in international waters off the west coast of Portugal. Since each of the vessels is at least 15 years old, they are likely not chartered by most traditional oil companies and did not appear there with the help of the usual financing. This suggests that the mystery Chinese shopper is cash rich.

Meanwhile, the authoritative Bloomberg agency has calculated that Russian black gold costs China 10% cheaper than fuel from Brazil. So, when buying oil from Russia, Beijing receives a discount of 10-12 dollars per barrel compared to the cost of similar grades from other players.


Be the first to read breaking news on Today’s latest news, and live news updates, read the most reliable English news website

Leave a Reply