Chinese Petroleum Corp. Exercises VLCC Tender

Thursday, August 02, 2001
Taiwan's state-owned Chinese Petroleum Corp (CPC) has bought two very large crude carriers (VLCC) of West African crudes via its September tender, a company official said on Thursday.

The volumes were below CPC's usual purchase of three to four VLCCs per month. Each VLCC can load up to two million barrels each.

"We have high inventories and not so much requirement," the CPC official said.

The details of the tender, which closed on Monday, were still unclear.

CPC usually buys an array of Cameroon, Nigerian and Congolese crudes and its regular sellers include TotalFinaElf, Agip and Chevron.

For August, CPC had bought cargoes of Escravos, Djeno, Palanca, Odudu and Kole to make up three VLCCs.


Tanker Trends

Big Tankers' Need for Retrofit Slows Use of New Panama Canal

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Russian Tanker Detained in Malaysia

The Malaysian Maritime Enforcement Agency (MMEA) detained a Russian oil tanker Zolotoi Most along with 25 crew members for anchoring off Tanjung Piai without authorization,

Ports

Fednav Welcomes Innovative Ballast System at Indiana Port

Fednav Limited, the largest international bulk shipowner in Canada, welcomed to the Port of Indiana-Burns Harbor, the Federal Caribou, one of seven new oceangoing

Essar’s Vizag Port Terminal Boost Third Party Business

Post the taking over of Vishakhapatnam Port Trust’s (VPT's) Iron Ore Handling Complex (OHC) on a Build-Operate-Transfer (BOT) basis for a period of 30 years in May’ 15,

2015 Congestion Affected Long Beach Port's Air Quality

Pollution around the Port of Long Beach has been dramatically cut over the last decade, however, according to the latest study, lingering effects from ships at

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1092 sec (9 req/sec)