Two Chinese-flagged supertankers, initially set to head to Venezuela to load crude oil intended as debt repayment from Caracas to Beijing, have reversed their course in the Atlantic and are returning to Asia. This move highlights new hurdles facing the direct flow of Venezuelan oil to its primary buyer in the near term.
According to maritime tracking data reported by Reuters, these tankers—which exclusively navigated the Venezuela-to-China route for transporting crude as a debt settlement mechanism—remained anchored off the Venezuelan coast for weeks, awaiting instructions amid a political crisis and the tightened U.S. energy blockade.
The shift in direction for these vessels comes shortly after Washington's announcement of an agreement to export up to 50 million barrels of stored Venezuelan oil, an operation involving major international trading houses.
Following this announcement, President Donald Trump stated that China would not be excluded from accessing Venezuelan crude, though he did not specify how this supply would be maintained.
In practice, however, the numbers tell a different story. China, the largest market for Venezuelan oil, has not received direct shipments from the state-run PDVSA since last month, while the U.S. insists that the oil embargo remains in force.
Instead of direct exports from PDVSA, the initial shipments under the new framework are being organized by companies like Vitol and Trafigura, who are finalizing loads under a $2 billion supply agreement. These shipments are destined for the U.S. and other markets, including India and China, opening the possibility for Chinese refineries to receive Venezuelan crude through intermediaries, no longer as a direct state-to-state flow but via triangulated commercial operations.
The two rerouted vessels, identified as Xingye and Thousand Sunny, are not under sanctions but belong to a small group of supertankers that have historically covered the Venezuela-to-China route to transport crude linked to bilateral debt service.
This arrangement emerged following the energy sanctions imposed on Caracas in 2019, when Beijing granted a grace period for capital repayments and agreed to settle the debt with oil shipments.
Last year, China was the primary destination for Venezuelan crude, with exports nearing 642,000 barrels per day, accounting for roughly three-quarters of PDVSA's total exports. However, the majority of these volumes ended up in independent Chinese refineries through lesser-known intermediaries, while shipments directly tied to debt repayment constituted only a small fraction of the total.
Geopolitical Tensions and Rising Pressure
The rerouting of the Chinese supertankers occurs amid high tensions in the Caribbean, where the United States has ramped up military and diplomatic pressure against networks supporting Venezuelan oil trade outside sanctioned channels.
U.S. Southern Command has issued direct warnings to vessels associated with the so-called "dark fleet," accused of transporting Venezuelan crude through opaque schemes to support illicit financing circuits.
These warnings are backed by a significant naval deployment, including the aircraft carrier USS Gerald R. Ford and several amphibious platforms, as part of Operation Southern Spear. The mission, supported by various federal agencies, aims to step up at-sea interdictions and dismantle the maritime logistics that allow Caracas to move its oil despite the blockade.
U.S. forces have also increased seizures of ships linked to these networks, intercepting vessels in the Caribbean and the Atlantic, some flying flags of convenience or recently altered to evade sanctions.
This heightened surveillance environment further complicates any attempt at direct export from Venezuelan ports to key markets such as China.
Adding to the naval pressure is the repositioning of U.S. ships north of Cuba, a gesture interpreted by analysts as a warning to both Havana and Caracas about Washington's resolve to close escape routes for sanctioned crude.
In this context, the decision of two Chinese supertankers to cancel their voyage and return to Asia without loading oil is not an isolated incident but rather a symptom of the Caribbean becoming an active front of energy and geopolitical confrontation, where each maritime movement is closely watched and can disrupt the delicate balance of regional oil trade.
Implications of Oil Trade Disruptions
Why did the Chinese supertankers reverse their course?
The Chinese supertankers reversed their course due to new hurdles and geopolitical tensions affecting the direct flow of Venezuelan oil to China, amid tightened U.S. energy blockades and political crises.
How is the U.S. influencing Venezuelan oil exports?
The U.S. is exerting influence through military and diplomatic pressure, increased naval deployments, and sanctions to disrupt illicit oil trade networks and prevent direct exports from Venezuela.
What is the impact on China's oil imports from Venezuela?
China has not received direct oil shipments from Venezuela's PDVSA recently, as exports are now routed through intermediaries under new commercial operations, reflecting a shift in the traditional trade scheme.