@chamfer see u at cainatown next time

Saw the article about her turns out she’s JHB

MOSCOW: Russian oil exporters are increasingly listing Singapore as the official destination for crude shipments, a move traders say reflects growing difficulties in securing buyers and rising concerns over Western sanctions. According to a Reuters report citing traders and shipping data from London Stock Exchange Group (LSEG), the practice signals a shift in Russian export flows away from India and towards China, while obscuring final delivery points. LSEG shipping data shows tankers carrying around 1.4 million metric tonnes of Russian crude departed for Singapore in January. This marked the highest monthly volume routed to Singapore in recent years, despite the city-state not importing Russian oil. Traders said Singapore is frequently used as a placeholder destination. While it does not purchase Russian crude due to sanction risks, its nearby waters are sometimes used for ship-to-ship transfers. According to market participants cited by Reuters, many vessels ultimately discharge cargo near Malaysia or transfer oil to floating storage units. In several cases, Singapore is listed to mask the identity of final buyers. “The rise in tankers listing destinations such as Singapore, Suez, or Port Said signals mounting difficulties with sales and a shrinking pool of reliable buyers,” said a Moscow-based oil trader quoted in the report. The increased use of vague or conditional ports reflects heightened caution among buyers and shippers. Companies are seeking to mitigate sanction exposure by avoiding clear end destinations in shipping documentation. Previously, tankers bound for India commonly listed Egypt’s Port Said or the Suez Canal as their destination. Traders said this practice has now evolved, with Singapore more frequently replacing those ports. The shift comes as India is expected to scale back or halt imports of Russian oil. This follows a recent trade deal with the United States, which traders believe could reduce India’s appetite for discounted Russian crude. India had emerged as a key buyer of Russian oil after Western sanctions were imposed following the Ukraine conflict. Refiners took advantage of discounted prices, helping Moscow maintain export volumes. With India’s demand waning, China is increasingly Russia’s primary customer. However, Chinese state-owned oil firms remain cautious, particularly regarding spot cargoes. Traders said concerns over secondary sanctions have limited Chinese purchases. This has further narrowed Russia’s export options and increased reliance on indirect or opaque shipping routes. The growing uncertainty has coincided with renewed regulatory pressure from Europe. Separately, the European Commission has proposed a comprehensive ban on EU maritime services for shipping Russian crude oil. The proposal would go beyond the G7’s price cap mechanism. It aims to eliminate EU involvement in Russian oil exports entirely, increasing economic pressure on Moscow. The measures would also target overseas terminals in Georgia and Indonesia that handle Russian crude. These facilities are seen as part of Russia’s broader logistics network. The proposed ban comes amid ongoing negotiations related to the war in Ukraine. European officials argue that tighter restrictions are necessary to reduce energy revenues supporting Russia’s economy.

@Cybertan