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Russian oil transfers at sea surge as freight costs rise – Bloomberg ...News
A record 14 million barrels of seaborne oil have been reloaded this month and sent to Asia, the news agency reports Ship-to-ship (STS) transfers of Russian crude oil at sea have reached record volumes since the start of January amid rising freight costs resulting from EU sanctions, Bloomberg has reported citing tracking data. STS transfers are a routine part of oil trading and are commonly used to move crude or petroleum products from large-capacity vessels to smaller tankers at sea. So far, five very large crude carriers (VLCCs), the industry’s largest mainstream vessels, are likely to be involved in Urals STS tr
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