Moscow/New Delhi: For months now, several Russian oil tankers have been moving across international waters without buyers or discharge destinations. The unusual sight of fully loaded crude carriers waiting at sea shows that Asia’s oil trade is changing, partly because India has reduced how much oil it is buying.
India has not stopped purchasing Russian crude, despite political claims to the contrary. However, purchases have slowed compared to earlier peaks. This moderation has increased pressure on Moscow to place its barrels elsewhere in Asia, forcing traders to hold cargoes afloat while searching for new buyers.
US President Donald Trump recently claimed that India had halted Russian oil imports as part of a trade understanding with Washington. He suggested that New Delhi had agreed to source more crude from the United States and Venezuela instead.
On the ground, the situation appears more nuanced. Indian refiners continue to process Russian oil, though buying volumes have eased. The Indian government has not issued a formal directive asking companies to stop imports, even as some refiners have delayed fresh spot orders.
Shipping data reviewed by market trackers shows the scale of the present bottleneck. According to global vessel-tracking firm Kpler, at least a dozen tankers carrying Russia’s flagship Urals crude have been sailing across the Indian Ocean region. Routes have taken these ships past Malaysia, along China’s maritime approaches, and near Russia’s eastern seaboard. Together, they hold close to 12 million barrels of crude still awaiting firm buyers.
The backdrop to this build-up lies in the post-Ukraine war energy map. Western sanctions pushed Russian oil out of many European markets in 2022. Moscow redirected flows toward Asia, offering heavy discounts to secure demand. India emerged as one of the largest buyers during this phase. It increased intake as refiners capitalised on lower prices.
Import levels point to the change now in progress. Bloomberg estimates that India imported roughly 1.2 million barrels per day of Russian crude in January. That number stood closer to 2 million barrels per day around mid-2024. The reduction has left excess cargoes circulating while traders are negotiating alternative deals.
Russia has sought relief through China and other regional buyers. Independent refineries in China have increased their purchases of Russia’s Urals crude. In January, imports reached around 500,000 barrels per day, the highest level so far. Even so, many Chinese processors show greater preference for lighter grades such as ESPO and Sokol, which ship more easily from Russia’s Pacific terminals.
Countries like Indonesia occasionally buy Russian barrels, though their refiners also favour lighter blends. A well-supplied global oil market has further complicated Russia’s efforts to secure replacement demand.
Additional tanker traffic highlights the surplus. Ship-tracking systems show more Urals cargoes moving from the Atlantic basin through the Mediterranean and the Red Sea toward Asia. Several vessels list Singapore as their intended destination, though discharge ports often change depending on real-time buying interest.
Analysts say India’s recalibration of sourcing strategy has contributed to the growing number of cargoes sailing without locked contracts.
Beyond trade flows, the situation has also exposed human hardships at sea. Reports have emerged of crews stranded for extended periods aboard vessels unable to dock. One such tanker, carrying about 750,000 barrels of Russian crude valued near $50 million, departed Russia’s Far East for China in early November and has yet to berth.
A senior deck officer from the ship described deteriorating living conditions during the wait. Food stocks thinned over time, basic supplies ran low and crew morale weakened as weeks stretched into months. The vessel has been in international waters under heightened monitoring, with Chinese authorities declining port entry clearance.
In December, the International Transport Workers’ Federation classified the tanker as abandoned after sailors reported unpaid wages for several months. The union stepped in to secure salary payments through the end of the year and arranged delivery of food, water and essentials. Some crew members have since been repatriated, though others continue to be on board while the cargo awaits a buyer.
The drifting tankers now symbolise a broader transition in global oil logistics. India’s moderated intake, China’s selective buying preferences and ample worldwide supply have combined to slow Russia’s export momentum. How quickly Moscow can redirect these floating cargoes will decide near-term pricing dynamics and tanker movements across Asian waters.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: ZEE News
