Russian Fuel Exports to Asia via Africa Reach All-Time High

Russian exports of petroleum products to Asia via the southern tip of Africa nearly doubled in July from a month earlier to hit an all-time high, according to LSEG shipping data reported by Reuters. Last month, Russia’s shipments of fuels via the Cape of Good Hope en route to Asia jumped to a record-high volume of 1.1 million metric tons, as more tankers took the longer route instead of the Suez Canal, per the data. Since the end of 2023, many ship owners and vessel charterers have opted to use the longer route via the Cape of Good Hope to…