The crude oil tanker Cordelia Moon (163,000 dwt) continues to have a string of bad luck. The vessel listed as owned by a company in the Seychelles and managed from India has been known to be in the Russian oil trade and that has put it in harm’s way more than once.
The tanker which was built in 2006 and is registered in Panama is now finding itself caught in the expanding reach of the U.S. sanctions imposed by the Biden administration against Russia. Bloomberg was first to report the tanker had arrived off India’s Vadinar Port on February 9 but was denied docking rights to unload. Four days later it is still sitting off India according to its AIS signal.
The vessel is laden with Russian oil loaded having departed Novorossiysk on January 10. According to the report on Bloomberg, there are approximately 1 million barrels aboard coming from one of the producers, Surgutneftegaz, which has been sanctioned by the United States.
India has reportedly decided not to receive cargoes or ships that have been sanctioned. Bloomberg quotes India’s Oil Minister Pankaj Jain as saying the country had decided not to accept shipments from sanctioned companies if they were loaded after January 10. India had previously turned away Russian cargoes due to Western pressures and recently China’s Shandong Port Group also said it would not be accepting sanctioned tankers.
Being in the Russian oil trade has not been good for the Cordelia Moon. The tanker was bound for Suez after having offloaded in India when the Houthis targeted the vessel on October 1. The tanker’s captain told the authorities that in the first wave of attacks, they spotted several splashes. The Houthis claimed a launch of eight missiles and one drone against the tanker. During the second attack, the vessel’s port ballast tank was punctured. The Houthis released spectacular images showing the moment of explosion on the ship’s hull.
After completing repairs, the tanker was transiting the Bosphorus bound for Russia for its next cargo when it experienced engine troubles. The Bosporus was closed on December 26 by the disabled ship. The Turkish authorities stepped in and towed it to an anchorage.
It is unclear what is going to happen with the Cordelia Moon. The Indian Oil Minister told Bloomberg he was not aware of the case.
Today, Reuters highlights that U.S. sanctions are beginning to have an increasing impact both on Russia and Iran. The sanctions they report are driving up costs. With fewer ships available Reuters says transport costs have risen for the oil. They report costs are being driven up for Indian and Chinese refineries which have been the largest customers for the oil.
