+
Russian oil STS operations fall as Greece extends naval advisory ban
OIL & GAS

Russian oil STS operations fall as Greece extends naval advisory ban

Russian oil and product ship-to-ship (STS) operations near Greece's Kalamata have experienced a significant decline in May, as indicated by data from LSEG and traders. This decrease follows Greek naval advisory prohibiting ship traffic off the south eastern Peloponnese coast. STS operations have grown in prominence since the Group of Seven and European Union implemented measures to limit the sale of Russian crude and oil products. Consequently, the majority of Russian crude is now being directed to Asia, necessitating the use of larger tankers for longer voyages.

The international waters off the Laconian Gulf have emerged as a key location for Russian oil and product STS operations in Europe due to their proximity to Russian ports and the Suez Canal, facilitating access to Asian markets. In an unusual move, Greece has issued Navtex notices, warning of military exercises in the Laconian Gulf area throughout May and extending the advisory until June 24. There's speculation that this advisory might be extended further, according to a Greek defence ministry official.

STS transfers in open sea areas beyond the Laconian Gulf region are challenging, potentially contributing to the decline in STS activity. Tightened regulations surrounding ship-to-ship transfers in Spain's Ceuta have already led to the relocation of Urals oil STS operations to Egypt's Damietta and Port Said ports, incurring additional costs. Similarly, Russian oil product STS operations have shifted from the south eastern Peloponnese to Malta.

Furthermore, tankers loaded with Russian high-sulphur diesel and vacuum gasoil have been offloaded to other tankers at the Port Said Anchorage, with cargoes destined for Fujairah and Asian countries. Notably, there are no plans for further Russian Urals oil supplies to the Laconian Gulf in May, following the latest cargo shipment to India earlier in the month. (ET Infra & Reuters)

Russian oil and product ship-to-ship (STS) operations near Greece's Kalamata have experienced a significant decline in May, as indicated by data from LSEG and traders. This decrease follows Greek naval advisory prohibiting ship traffic off the south eastern Peloponnese coast. STS operations have grown in prominence since the Group of Seven and European Union implemented measures to limit the sale of Russian crude and oil products. Consequently, the majority of Russian crude is now being directed to Asia, necessitating the use of larger tankers for longer voyages. The international waters off the Laconian Gulf have emerged as a key location for Russian oil and product STS operations in Europe due to their proximity to Russian ports and the Suez Canal, facilitating access to Asian markets. In an unusual move, Greece has issued Navtex notices, warning of military exercises in the Laconian Gulf area throughout May and extending the advisory until June 24. There's speculation that this advisory might be extended further, according to a Greek defence ministry official. STS transfers in open sea areas beyond the Laconian Gulf region are challenging, potentially contributing to the decline in STS activity. Tightened regulations surrounding ship-to-ship transfers in Spain's Ceuta have already led to the relocation of Urals oil STS operations to Egypt's Damietta and Port Said ports, incurring additional costs. Similarly, Russian oil product STS operations have shifted from the south eastern Peloponnese to Malta. Furthermore, tankers loaded with Russian high-sulphur diesel and vacuum gasoil have been offloaded to other tankers at the Port Said Anchorage, with cargoes destined for Fujairah and Asian countries. Notably, there are no plans for further Russian Urals oil supplies to the Laconian Gulf in May, following the latest cargo shipment to India earlier in the month. (ET Infra & Reuters)

Next Story
Infrastructure Transport

Centre Yet to Identify Airports for Sustainable Aviation Fuel Blending Infrastructure

The Union Government has approved indicative SAF blending targets for aviation turbine fuel (ATF) used in international flights. Minister of State for Civil Aviation, Murlidhar Mohol, stated in Parliament that India aims to achieve a 1% SAF blend by 2027, increasing to 2% in 2028 and 5% by 2030.This initiative aligns with India’s commitment to the mandatory phase of the Carbon Offsetting Reduction Scheme for International Aviation (CORSIA), implemented by the International Civil Aviation Organization (ICAO). Under CORSIA, airlines are required to offset carbon emissions exceeding a baseline ..

Next Story
Infrastructure Urban

CII Survey: Infrastructure, Awareness Hinder India’s Smart Meter Adoption

As of July 15, only 20.41 million smart meter units have been installed nationwide, far short of the 20.33 crore units sanctioned under the Revamped Distribution Sector Scheme (RDSS), according to the Ministry of Power.The CII’s recent survey highlights that the biggest challenges hindering smart meter adoption are outdated utility infrastructure, unreliable connectivity—especially in remote areas—and limited consumer awareness. Notably, 80 per cent of survey participants pointed to consumer engagement as the key obstacle, while most agreed that clearer regulatory guidelines, enhanced bi..

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?