A Russian oil-laden tanker that was bound for China has U-turned in the South China Sea, and is now hurrying to India after New Delhi began doubling down on imports from Moscow.
The Aqua Titan is set to arrive in New Mangalore on March 21 with its Urals cargo that it loaded from a Baltic Sea port in late January, according to ship-tracking data. The Aframax vessel originally signaled the Chinese port of Rizhao as its destination before making an about-face in Southeast Asian waters in mid-March, days after the US gave the green light for India to temporarily increase Russian purchases. Since then, more countries have been allowed to resume purchases from Russia. That paves the way for further diversions from China, which has served as Moscow’s importer of last resort in recent months after India reduced purchases. The return of buyers, including those in Japan and South Korea, is likely to push prices higher.Â
About the Author
