Overview
- LSEG tracking shows the very large crude carriers Xingye and Thousand Sunny reversed course after weeks at anchor and are now heading back to Asia.
- The ships are part of a small group dedicated to the Venezuela–China route used to service loans with crude deliveries.
- Both vessels had been awaiting instructions to load cargoes earmarked as debt repayments to China, according to shipping and industry reports.
- Washington last week announced a $2 billion operation to move up to 50 million barrels from Venezuelan storage while stating the embargo remains in effect, and China has not received Venezuelan cargoes since last month.
- Recent U.S. actions — including tanker seizures and new blacklistings of firms and vessels tied to Venezuela’s oil trade — have heightened legal, insurance and operational risks for carriers.