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At least two supertankers depart Venezuelan waters carrying oil
Two China-flagged supertankers reversed course amid legal and insurance uncertainties linked to U.S. sanctions, blocking direct crude shipments that repay Venezuela's debt to China.
- On Jan 12, two China-flagged VLCCs Xingye and Thousand Sunny made U-turns and are now heading back to Asia after weeks anchored awaiting instructions to load Venezuelan crude.
- U.S. oil embargo and tighter enforcement have complicated shipments, while shipping data show ongoing disruption to Venezuela's energy trade after the U.S. capture of President Nicolas Maduro.
- The vessels form part of a dedicated three-ship fleet that exclusively serves the Venezuela–China debt-for-oil route, while China's refiners have not received PDVSA cargoes since last month; analysts estimate Venezuela repaid more than $50 billion through oil deliveries.
- Shipowners and insurers face heightened risk because both tankers are not sanctioned, yet their retreat signals operational uncertainty amid escalating geopolitical tensions, threatening Venezuela's economy.
- A newly approved $2 billion deal to export up to 50 million barrels will see Vitol and Trafigura manage shipments initially heading to the United States, India and China.
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Two Chinese-flagged supertankers bound for Venezuela with a cargo of crude oil to pay off debt amid a U.S. oil embargo against OPEC have turned around and are now heading back to Asia.
These Chinese-flagged ships have made a U-turn following the incident in which US forces stormed and seized a large Russian oil tanker. This Russian vessel was named Bella 1 but was recently renamed Marinera.
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Supertankers sailing to pick up Venezuelan oil for China make u-turn, ship data shows
HOUSTON, Jan 12 (Reuters) - Two China-flagged supertankers that were sailing to Venezuela to pick up debt-paying crude cargoes amid the U.S. oil embargo on the OPEC country have made u-turn and are now heading back to Asia, LSEG shipping data showed on Monday.
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Total News Sources24
Leaning Left1Leaning Right5Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
C 50%
R 42%
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