net_left adver left
Detail

Exclusive: Russian oil tankers get India safety cover via Dubai company

By Nidhi Verma and Jonathan Saul NEW DELHI/LONDON (Reuters) - India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group...
Exclusive: Russian oil tankers get India safety cover via Dubai company © Reuters. FILE PHOTO: The logo of Russian state shipping company Sovcomflot is seen on the multifunctional icebreaking standby vessel "Yevgeny Primakov" moored in central St. Petersburg, Russia February 3, 2018. REUTERS/Anton Vaganov

By Nidhi Verma and Jonathan Saul

NEW DELHI/LONDON (Reuters) - India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow.

Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets.

Data compiled from the IRClass website shows that it has certified more than 80 ships managed by SCF Management Services (Dubai) Ltd, a Dubai-based entity listed as a subsidiary on Sovcomflot's website.

An Indian shipping source familiar with the certification process said most of Sovcomflot's vessels had now migrated to IRClass, via the Dubai arm.

Classification societies certify that ships are safe and seaworthy, which is essential for securing insurance and for gaining access to ports.

Russia's crude oil sector, hit by strict sanctions due to Moscow's invasion of Ukraine, has been forced to seek buyers outside the West while turning to Russian transporters and insurers to handle its exports.

India, which has refrained from condemning Russia given its longstanding security ties, has sharply boosted Russian crude oil purchases in recent months.

Western sanctions against Russia prompted many oil importers to shun trade with Moscow, pushing spot prices for Russian crude to record discounts against other grades.

That provided Indian refiners, which rarely used to buy Russian oil due to high freight costs, an opportunity to snap up low-priced crude. Russian grades accounted for about 16.5% of India's overall oil imports in May, compared with about 1% in all of 2021.

TOP TIER

India's ship certifier is one of 11 members of the International Association of Classification Societies (IACS), top-tier certifiers that account for more than 90% of the world's cargo-carrying tonnage.

The Russia Maritime Register of Shipping was also part of the group until March, when its membership was withdrawn following a vote by 75% of IACS' members. Membership in IACS, which sets technical standards, typically makes a certifier more attractive for insurers, ports, flag registries and shipowners seeking safety assurances.

The four leading IACS members, from the UK, Norway, France and the United States, have stopped services to Russian companies due to the sanctions.

A spokesperson for IRClass, however, when asked about the certification data for Sovcomflot's fleet, responded: "Indian Register of Shipping, as an international ship classification society, reiterates that we have not classed vessels which are owned, flagged or managed by Russian companies."

The spokesperson declined to comment further on the matter, including on the Dubai unit's connection to its Russian parent.

Sovcomflot is subject to sanctions and other restrictions by the UK and the European Union, while Washington has restricted its financial activities. The company did not immediately respond to a request for comment.

An IACS spokesman said that IRClass' actions were not a matter for discussion by the association.

"IACS is not involved in the operational and commercial activities of its members, including appraisal, approval surveying and testing of vessels and equipment and the issuing of classification and statutory certificates where authorised," he said.

"As such, these developments do not get discussed within the association."

Sovcomflot's chief executive told reporters last week that the group had insured all its cargo ships with Russian insurers and the cover met international rules.

People familiar with the situation told Reuters this month that state-controlled Russian National Reinsurance Company had become the main reinsurer of Russian ships, including Sovcomflot's fleet.

HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
30-06-2022 20:50:08 (UTC+7)

EUR/USD

1.0412

-0.0027 (-0.26%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

EUR/USD

1.0412

-0.0027 (-0.26%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

GBP/USD

1.2143

+0.0018 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

USD/JPY

135.93

-0.64 (-0.47%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.6903

+0.0022 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

USD/CAD

1.2900

+0.0009 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (2)

EUR/JPY

141.54

-1.04 (-0.73%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

0.9950

-0.0022 (-0.22%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (6)

Gold Futures

1,818.50

+1.00 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (10)

Silver Futures

20.453

-0.285 (-1.37%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Copper Futures

3.7125

-0.0680 (-1.80%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

Crude Oil WTI Futures

108.31

-1.47 (-1.34%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (5)

Sell (2)

Brent Oil Futures

111.13

-1.32 (-1.17%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (3)

Natural Gas Futures

6.586

+0.088 (+1.35%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Coffee C Futures

229.60

+1.35 (+0.59%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Euro Stoxx 50

3,423.45

-90.87 (-2.59%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

S&P 500

3,755.90

-62.93 (-1.65%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (6)

DAX

12,648.83

-354.52 (-2.73%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

FTSE 100

7,133.66

-178.66 (-2.44%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Hang Seng

21,859.79

-137.10 (-0.62%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (3)

US Small Cap 2000

1,686.60

-26.72 (-1.56%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

IBEX 35

8,010.78

-177.22 (-2.16%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (3)

BASF SE NA O.N.

39.780

-1.800 (-4.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Bayer AG NA

56.44

-1.18 (-2.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Allianz SE VNA O.N.

180.61

-3.11 (-1.69%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Adidas AG

167.08

-2.94 (-1.73%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

5.350

-0.463 (-7.96%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

96.86

-4.54 (-4.48%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

Deutsche Bank AG

8.193

-0.378 (-4.41%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

 EUR/USD1.0412↑ Sell
 GBP/USD1.2143↑ Sell
 USD/JPY135.93Buy
 AUD/USD0.6903↑ Sell
 USD/CAD1.2900↑ Buy
 EUR/JPY141.54↑ Buy
 EUR/CHF0.9950↑ Sell
 Gold1,818.50↑ Sell
 Silver20.453↑ Sell
 Copper3.7125Sell
 Crude Oil WTI108.31Neutral
 Brent Oil111.13Neutral
 Natural Gas6.586↑ Buy
 US Coffee C229.60↑ Sell
 Euro Stoxx 503,423.45↑ Sell
 S&P 5003,755.90↑ Sell
 DAX12,648.83↑ Sell
 FTSE 1007,133.66Neutral
 Hang Seng21,859.79Sell
 Small Cap 20001,686.60Sell
 IBEX 358,010.78Neutral
 BASF39.780↑ Sell
 Bayer56.44↑ Sell
 Allianz180.61↑ Sell
 Adidas167.08↑ Sell
 Lufthansa5.350↑ Sell
 Siemens AG96.86↑ Sell
 Deutsche Bank AG8.193↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,810/ 6,870
(5/ 5) # 1,764
SJC HCM6,830/ 6,890
(10/ 0) # 1,783
SJC Hanoi6,830/ 6,892
(10/ 0) # 1,785
SJC Danang6,830/ 6,892
(10/ 0) # 1,785
SJC Nhatrang6,830/ 6,892
(10/ 0) # 1,785
SJC Cantho6,830/ 6,892
(10/ 0) # 1,785
Cập nhật 30-06-2022 20:50:11
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,816.55-2.51-0.14%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
DO 0,001S-V30.81031.420
Dầu hỏa 2-K28.78029.350
ↂ Giá dầu thô thế giới
WTI$106.91+1.441.33%
Brent$110.60+1.311.17%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.105,0023.415,00
EUR23.704,3925.032,07
GBP27.520,9428.694,87
JPY165,73175,46
KRW15,5118,90
Cập nhật lúc 18:51:16 30/06/2022
Xem bảng tỷ giá hối đoái
adver main right