According to five industry sources and shipping data from the London Stock Exchange Group (LSEG), a tanker chartered by energy giant BP left a port operated by the recently sanctioned Indian refiner Nayara Energy without loading any cargo, indicating that new European Union sanctions on Russia are beginning to have an impact.
LSEG data shows that the tanker “Talara” was originally scheduled to load 60,000 metric tons (447,000 barrels) of ultra-low sulfur diesel at Nayara’s Vadinar port in western India on July 21, with the cargo destined for Africa. Nayara is partly owned by Rosneft, Russia’s largest oil producer. Neither BP nor Nayara immediately responded to requests for comment. The sources requested anonymity as they were not authorized to speak to the media.
The change in the loading plan indicates that the EU sanctions imposed on Nayara last Friday are disrupting the refined fuel export business of this Russian-backed refiner, one of India’s two private fuel exporters. One source said the “Talara” failed to load cargo after the EU sanctions were imposed. This sanctions package, targeting Russia’s war in Ukraine, aims to further hit Russia’s oil and energy industry.
Two sources revealed that BP subsequently terminated the charter for the vessel, allowing it to be re-chartered in India or the Middle East. On Monday, Nayara issued a statement condemning the EU’s decision to impose “unjust and unilateral” sanctions on the company. The Indian government also stated last Friday that it does not support the EU’s “unilateral sanctions.”
Tender documents seen by Reuters show that, affected by the EU sanctions, Nayara Energy has modified the terms of a naphtha tender issued on Monday, requiring prepayment. Data from LSEG and Kpler shows that another Panamax tanker, the “Pacific Martina,” chartered by Shell (SHEL), arrived at Vadinar port on July 18 to load jet fuel.
LSEG data on Tuesday showed that the “Pacific Martina,” partially loaded with jet fuel from Nayara, was anchored offshore along with the “Talara.” Charter contracts from shipbrokers show that China National Petroleum Corporation (CNPC) also chartered the medium-range tanker “Changhang Xingyun” on a trip basis, planning to load 35,000 tons of diesel from Vadinar port between July 29-31, with the option to discharge in Singapore or Chittagong, Bangladesh.
Neither Shell nor China National Petroleum Corporation immediately responded to requests for comment.
Source: Reuters
