A Russian diesel cargo has been floating off Chile's coast for nearly two months, even as parts of South America grapple with fuel shortages, data from LSEG and industry sources showed.
The delay in discharging is the latest in a series of shipping disruptions that market sources say reflect a surge in fuel prices since mid-February amid the Iran war, which has prompted some traders to seek higher-margin spot deals.
Shipping data shows the tanker, Sauri, loaded about 30,000 tonnes of diesel at Russia's Baltic port of Vysotsk on February 12, transited the Panama Canal, and has been drifting near Chilean port of Arica since March 17.
Traders said the cargo was likely destined for landlocked Bolivia, which relies on neighbouring ports for seaborne imports.
The reasons for the prolonged delay remain unclear. Bolivia's state energy company YPFB did not immediately respond to a request for comment.
In April, at least three tankers carrying Russian ultra-low sulphur diesel (ULSD) were diverted mid-voyage from Brazil to alternative destinations.
Three more tankers, loaded in April at Russia's Baltic port of Primorsk with 120,000 tonnes of low-sulphur diesel, are also drifting without a clear destination as they await orders, according to shipping data.
Russia began supplying diesel to Bolivia in 2024 to help ease fuel shortages, shipping at least 190,000 tonnes last year as Western sanctions pushed Moscow to expand into Latin America.
In late April, Bolivia's government approved a decree allowing YPFB to make direct fuel purchases on international spot markets, enabling it to buy hydrocarbons without intermediaries in a bid to secure domestic supply.
(Reporting by Reuters in Moscow. Additional reporting by Lucinda Elliott in Montevideo. Editing by Mark Potter)