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  • 2022 May 12 17:48

    Russian oil exports to India are increasing – Banchero Costa

    However, the volumes are still fairly small compared to India’s sources in Middle East

    In 2021, India was the third largest seaborne importer of crude oil in the world, just after Mainland China and the European Union, according to Banchero Costa report. Last year, India accounted for 10.2% of global crude oil imports. The world’s top importer, Mainland China, accounts for 21.3% of global volumes, and the EU for 21.0%, Banchero Costa report showed.

    In the first 4 months of 2022, India’s crude oil imports rebounded strongly, with volumes increasing by +10.7% y-o-y to 75.3 mln tonnes, from 68.1 mln t in Jan-Apr 2021, the report states.

    The vast majority of India’s crude oil imports are sourced from the Middle East, accounting for 64% of India’s total imports in 2021, and as much as 68% of volumes so far this year. The single largest supplier to India is Iraq, with 49.4 mln tonnes in the 12 months of 2021, or 26 percent of India’s total imports. In second place was Saudi Arabia, with 32.2 mln tonnes in Jan-Dec 2021, or 17 percent of the total. The UAE were third, with 19.9 mln tonnes, or 11 percent, with Kuwait also in the top 6 with 12.5 mln tonnes and 7 percent in 2021. Ahead of Kuwait, in fourth place, there are the USA, which exported 15.8 mln tonnes of crude to India in 2021, accounting for 8% of India’s imports. Behind the USA is also Nigeria, with 13.4 mln tonnes to India in 2021, or 7% of India’s total imports.

    Russia was fairly down the list, with just 3.9 mln t of crude oil exported to India in Jan-Dec 2021, or just 2% of India’s total crude imports, the experts say. «In recent weeks we have seen a lot of talk about increased Russian oil exports to India, which is seen as politically controversial. That’s technically true, as volumes from Russia to India are indeed increasing. However, the volumes are still fairly small in practical terms», – the report states.

    So far this year, crude oil volumes from Russia to India increased by +70.5% y-o-y to 2.1 mln tonnes in Jan-Apr 2022, a 0.9 mln tonnes increase from 1.2 mln tonnes in Jan-Apr 2022. That’s still just 2.7% of India’s total crude oil imports so far this year. This was also below the 3.1 mln tonnes imported from Russia in Jan-Apr 2020, when Russian crude was displaced by the start of Covid lockdowns in China and Europe.

    On the other hand, imports from Saudi Arabia to India increased by +39.2% y-o-y to 14.7 mln tonnes in Jan-Apr 2022, a jump of 4.2 mln tonnes from the 10.5 mln tonnes in Jan-Apr 2021. Shipments from Iraq to India also increased by +18.8% y-o-y in Jan-Apr 2022 to 19.5 mln tonnes, from 16.4 mln tonnes in Jan-Apr 2021.

2022 May 20

18:15 Inland ports urge the true completion of the European Network
18:00 IAA PortNews’ summary of past week news
17:37 Port Kolomna holds keel-laying of Moskovsky-703 dredger, Project 4395
16:56 Gazpromneft Marine Bunker prolongs contract on operation of terminal in Saint-Petersburg port till 2027
16:05 Blue Tern to support jacket installation campaign on Neart na Goithe
15:51 RUSCON sent cargo to China via inland terminal in Nakhodka
15:29 DNV certifies first training platform provider Seably
14:24 USC is in talks with potential customers on construction of container ships
14:02 Port of Savannah moves nearly 500K TEUs in April 2022
13:59 RF Navy to take delivery of 20 warships in 2022 – Vice Prime Minister Yury Borisov
13:18 MOL holds joint public-private anti-piracy drill with LNG carrier 'LNG MARS'
12:54 Daewoo Shipbuilding сancels LNG сarrier order linked to Sovcomflot - The Maritime Executive
12:43 USC set to start serial production of components for ship propulsion units in 2024-2025
12:41 Russian oil producers start to book up an increasing number of tankers owned by Sovcomflot - Bloomberg
12:24 Corvus Energy sets up US battery factory to meet market demand for hybrid and zero-emission vessels
12:14 Wärtsilä extends leadership in hybrid vessel segment
11:52 GTT receives an order from Hyundai Samho Heavy Industries for the tank design of a new LNG carrier
10:55 Havyard Group ASA and HG Group AS merge to create a leading service provider
10:00 USC head forecasts increase of orders from defense industry
09:19 Crude oil futures decrease on possible rise of supplies to China
08:56 MABUX: Irregular changes to prevail in Global bunker market on May 20

2022 May 19

18:06 Valenciaport detects in April a decline in Spanish export activity
17:48 Border checkpoint opened at Ultramar terminal in Ust-Luga seaport
17:26 CIMC Raffles delivered the first of two record-breaking ships to Wallenius Sol
17:15 ClassNK certifies NAPA Fleet Intelligence and NAPA Performance Monitoring and Optimization, and adds new notations to ships
16:41 New zero-emission Côte d’Ivoire Terminal receives first port equipment
16:12 PortsToronto releases 2021 Audited Financial Statements
16:05 “K” Line Group’s Yokohama Daikoku C-4 Terminal starts operation utilizing renewable energy
15:38 OTEKO obtains ISO 9001 certificate for handling of dry bulk cargo
15:06 Port of Salalah commissions new equipment to increase efficiency and meet demand
14:13 The first ship equipped to utilize future fairway services tested at Port of Kokkola
13:49 Vladivostok Fish Terminal puts into operation refrigerating facility of 7,000 tonnes in capacity
13:02 Wärtsilä completes delivery of 15 LPG fuel supply systems
12:28 Development of programme for Ship Repair, Modernization and Components conference is underway
12:07 MABUX: Bunker Weekly Outlook, Week 20, 2022
12:03 Long-term rates for reefer containers on the key US West Coast to Far East route up 60% in April - Xeneta
11:50 H2-Industries set to clear the oceans of plastic waste and produce clean fuel from innovative ship design
11:32 EU policymakers still need more ambitious green measures - Danish Shipping
11:11 PortNews issues its annual analytical report “Civil Shipbuilding in Russia”
11:03 Ports Long Beach and Los Angeles give update on Clean Air Action Plan
10:36 Global Ship Lease announces new forward charter agreement
09:56 RS developed requirements on usage of alternative fuels
09:53 ZIM reports record financial results for Q1 2022
09:29 Russian oil exports in January-April 2022 declined by 0.6% to 66.3 million tonnes
09:13 Crude oil futures rise on US reserves reduction statistics
08:58 MABUX: Bunker prices may continue downward changes on May 19

2022 May 18

18:35 Jotun's new tool to forecast carbon intensity of vessel operations
17:56 Gasum considers that natural gas imports from Russia could end this week
17:20 RF Government to extend setting of quotas for exports of mineral fertilizers till December 2022
17:06 Port of Antwerp-Bruges & CMB.TECH prepare the first hydrogen-powered tugboat
16:18 Port of Hamburg container throughput up 1.8 percent to 2.2 million TEU in Q1 2022
16:05 Port Houston container volume up 21% to 334,493 TEUs in April 2022
15:18 EU regulators must recalibrate EU ETS reform to ensure shipping industry is green by 2050 - WSC
15:11 Container throughput of Russian ports in 4M’2022 totaled 1.7 million TEUs, down 5.4% YoY
14:48 Throughput of Russian seaports in 4M’2022 rose by 0.1% YoY
14:32 Fluxys and Gasunie join forces to connect Belgian and Dutch hydrogen networks at North Sea Port
14:13 UAE to build LNG plant to double its export capacity - Bloomberg
14:02 Bureau Veritas and Climate Neutral Commodity join forces
13:44 Subsidies for construction of crab catchers at Far East shipyards to be raised from 20% to 28%
13:23 ECSA welcomes European Parliament’s decisive vote on commercial operators and Ocean Fund