China is hiring more tankers to ship a key crude oil from eastern Russia at bargain prices.

Unipec, also known as China International United Petroleum & Chemical Co., has hired ten tankers to help ship ESPO crude from Russia’s Kozmino port. The previous month, it had only hired two such tankers. Most fo the tankers are smaller Aframax ships, however two are much larger supertankers. It is unclear if all the tankers are carrying crude directly to Chinese ports, or if China may be delivering some of it elsewhere.

Unipec’s parent, Sinopec refused to comment on the matter.

Most western nations have refused to buy Russian oil due to the war in Ukraine. As a result, buyers are able to secure a sizable discount, making them very attractive to some buyers.

 

 

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