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Sanctioned tanker unloading Russian oil in Longkou

The 'Mermar', which has become subject to new U.S. sanctions, docked at the port of Longkou in Yantai on Jan 5, 2025,and started unloading Russian oil at a port operated by Shandong Port Group. The tanker became the first to do so in Shandong province since the penalties were announced. The vessel was carrying 80,000 metric tons (600,000 barrels) of Russian ESPO Blend crude, which was loaded on Jan 6 in the Port of Kozmino on Russia's east coast. The area is home to multiple independent Chinese refineries, which have been major importers of Russian crude. Industry officials will be closely watching the situation, eager to see how rigorously the measures will be enforced. The sanctions include a grace period exempting cargoes loaded before Jan. 10 and unloaded before March 12, but the industry halted some shipments while it assessed their risks. The US Office of Foreign Assets Control (OFAC) said the 'Mermar' had called at a Russian port where oil has consistently traded well above the $60 price cap imposed by the West to try to curb Russia's oil revenues. The tanker is part of the shadow fleet that Russia has so far used to circumvent sanctions. Its registered owner, the Merluza Group, has also been subject to restrictions under the new measures. The vessel is managed by Hong Kong-based Ocean Anemone Shipmanagement and insured by Russia-based Balance Insurance. The ship had insurance coverage from New Zealand's Maritime Mutual until May 2025, but changed insurers in November 2024,. Before the announcement of the US sanctions, the Shandong Port Group had banned US-sanctioned tankers from calling at its ports in the eastern Chinese province. The list of 183 US-sanctioned vessels includes 68 ships registered under the Panama flag. In this regard, the Maritime Authority of Panama (AMP) reported that it began to cancel the registrations of those vessels identified by the OFAC.

Three tankers stranded off China due to new sanctions against Russia

Three tankers with a total of 270,300 tons of oil on board are drifting off the coast of China as the consequence of a new US sanctions package against Russia. The measures were decided by Washington last week and appear to be causing major problems for Russian oil exports. The Chinese port of Shandong has banned ships that are subject to US sanctions because of the package of measures. Most of the oil is imported via the port of Shandong. Affected by the sanctions are the "Huihai Pacific", the "Mermar" and the "Olia". What will happen to the ships now was unclear at this stage. The 'Mermar' had left the Russian oil port of Kozmino on Dec 1, 2024, and moored in pos. 37° 46' N 120° 10' E on Jan 11, 2025.