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Tankers with Russian oil idled due to tightened sanctions
Three tankers carrying Russian oil have been moored for some time on both sides of the Suez Canal and in the Persian Gulf. Two of them, the 'Monte 1' and the 'Sikar' (IMO: 9419137), were awaiting a destination to deliver their cargo, while the third, the 'Dignity' (IMO: 9283241), has been detained by Sphinx Shipping from Port Said in the Persian Gulf due to unpaid bills. At the same time, the 22 Russian crew members have filed a lawsuit against the owner Argo Tankers with the Russian Seamen's Union SUR for overdue payments. The crew also filed a lawsuit in August. In addition to wages. the crew also wants the ship, sailing under the flag of Guinea, to be supplied with supplies. Food and water are scarce, and fuel tanks were approaching critical levels. The Argo was placed on the US list of sanctioned tankers earlier in 2025, and the United Kingdom and the EU followed suit later in the year. The 'Sikar', on the north side of the canal, and the 'Monte 1', on the south side, have been idling since late October. Both ships, flagged to Gambia, had loaded oilin the Russian port of Primorsk. Together they carry the equivalent of 1.5 million barrels of oil. They are on both the US and EU sanctions lists. The fact that the ships have been waiting so long demonstrates that the tightened sanctions are having an impact and that Moscow is having difficulty disposing of its oil quickly. The US recently announced stricter measures against companies that purchase oil from the major Russian oil companies Rosneft and Lukoil. Major buyers in India and China have subsequently decided to temporarily suspend purchases of Russian oil. The price subsequently fell by $8 per barrel, reducing the value of the oil aboard the two tankers by $12 million.
Saudi Aramco ships oil from Rotterdam to Yanbu
Saudi Arabian Oil Co., or Saudi Aramco, is shipping fuel oil from Northwest Europe to the Red Sea to meet Saudi Arabia's peak domestic summer demand, taking advantage of arbitrage economics that have been favorable up until recently. The first cargo from Rotterdam this year - believed to have been bought from Litasco - aboard the 100,000-deadweight-ton Montego is due to land at the Red Sea port of Yanbu this week, and the company is on the hunt for a second cargo in Europe, but a deal has yet to be finalized, several traders said. "They are just taking advantage of being able to land Rotterdam barrels into the Red Sea more cheaply than their own Middle East barrels," said a senior European fuel oil trader. http://www.hydrocarbonprocessing.com/Article/3057778/Latest-News/Aramco-ships-Europe-fuel-oil-to-Red-Sea-eyes-more.html
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