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Saudi Aramco offers more September crude to Asia via ship-to-ship swaps
The workaround routes tankers around Hormuz, with two VLCC cargoes of about 4 million barrels headed to China and cargoes expected to reach Ningbo and Zhanjiang in mid-September.
Saudi Arabia is using ship-to-ship transfers to keep crude flowing to Asia without relying on a fully normal Strait of Hormuz route, according to coverage cited from Reuters by OilPrice.
Saudi Aramco is offering more September volumes of Arab Medium and Arab Heavy to Asian buyers through offloading and rerouting cargo outside Hormuz, using tanker handoffs off Fujairah in the UAE or Sohar in Oman.
OilPrice reports that two very large crude carriers, carrying a combined 4 million barrels, were headed to China after receiving their cargoes via these transfers, with one expected at Zhanjiang on September 12 and the other at Ningbo on September 15, both destined for Sinopec.
The strategy is described as part of Aramco’s broader effort to manage disrupted export corridors, after the company resumed loading tankers at Ras Tanura and Juaymah earlier this month following a three-week pause.
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