Sinopec diverts supertanker after U.S. sanctions on Chinese port
China’s refining giant Sinopec has diverted a supertanker carrying 2 million barrels of crude from its original destination at the Rizhao port in Shandong province following U.S. sanctions on the terminal, according to ship tracking data. The vessel, New Vista, chartered by Sinopec’s trading arm Unipec, was rerouted to Ningbo and Zhoushan for arrival on October 15.
The Rizhao Shihua Crude Oil Terminal, partly owned by a Sinopec logistics unit, was sanctioned by the U.S. Treasury for receiving Iranian oil on board vessels subject to U.S. restrictions. The sanctions could reduce Sinopec’s October crude runs by around 3.36%, or roughly 5.16 million barrels per day, according to consultancy JLC, News.Az reports, citing Reuters.
About one-fifth of Sinopec’s crude imports typically pass through Rizhao, making the sanctions a significant disruption for the company’s refining operations. Sinopec has not yet commented on the matter.
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