Russian clean petroleum sector has seen the most dramatic rise with imports up by 360% from 310,000 MT in February of last year to 1.41 MT in August 2023, says shipping software company Veson Nautical.
The Boston-based company notes that the war between Ukraine and Russia has caused a change in trade flow patterns for various commodities but none more so than the tanker sector.
Rebecca Galanopoulos Jones, senior content analyst, notes that data from Oceanbolt, a Veson Solution, indicates an increase of Russian oil exports to Turkey.
This figure has continued to rise since the start of the war both for Crude /Dirty petroleum products and also for the Clean sector, says the analyst.
Since the outbreak of the war in February 2022, Russian exports to Turkey have increased by c.64% from 2.66 MT to 3.4 MT at the start of August 2023, following a peak of 5.06 MT in June 2023.
Crude volumes have been moving in an upwards trajectory, increasing by c.12% from 2.12 MT in February 2022 to 2.38 MT in August 2023.
However, it is the clean petroleum sector that has seen the most dramatic rise with Russian exports up by 360% from 310,000 MT in February of last year to 1.41 MT in August 2023, as it is highlighted by Rebecca Galanopoulos Jones.
Turkey currently ranks third in a list of the top destinations for exports of Russian crude and clean petroleum products, following behind China and India.
The majority of oil imports to Turkey are coming in to Aliaga, which has received 6.8 MT so far this year.
Novorossisyk is the busiest port in Russia for oil exports, accounting for 14.8 MT of oil exports in 2023 to date.
