Four liquefied natural gas tankers that previously serviced Oman's export plant are now loading fuel from the US-sanctioned Arctic LNG 2 project in Russia. According to ship-tracking data reported by Bloomberg, the Kosmos docked over the weekend alongside the blacklisted Saam floating storage unit near Murmansk before departing with a deeper draft, indicating it had taken on cargo. Three other former Omani vessels - Merkuriy, Orion, and Luch - have also picked up from Saam or are positioning to dock there.
The Saam stores fuel produced by the US-sanctioned Arctic LNG 2 plant, which is only accessible to vessels with ice-breaking capability for most of the year. As reported by Bloomberg, shipping is the key bottleneck for Russia's fuel trapped in its northern region, and the extra tankers could allow the nation to expand its exports. The Kosmos earlier this year switched to the Russian flag, changed its name and shifted ownership to Hong Kong-based Mighty Ocean Shipping Ltd. in February, while the Luch was transferred to Russia-based Abakan LLC in April.
The developments come as Moscow tries to capitalize on high LNG demand across Asia as the closure of the Strait of Hormuz chokes off a fifth of global supply and sends fuel prices higher. According to Bloomberg analysis, there are now at least 20 tankers being used to ferry LNG from sanctioned Russian projects, with one vessel attacked in March and out of service. The four vessels display hallmarks of dark fleet vessels, being older than typical LNG carriers and having recently transferred to companies not well known in the industry.
The effective closure of the Strait of Hormuz has created unprecedented market disruptions, with Middle East crude exports falling by about 10 million b/d versus prewar levels. As reported by Teekay Tankers, about 100 Aframax-sized or larger tankers are trapped west of Hormuz, including 59 VLCCs representing about 8% of the non-sanctioned VLCC fleet. The closure has propelled tanker rates to record levels, with Suezmax and Aframax/LR2 spot rates averaging $61,000/day in Q1 2026, while Q2 rates have climbed further with Suezmaxes booked at $121,800/day on 60% of available days.
