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.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Euronav Warns Against Speeding up Tankers

Many investors are asking questions about the dynamics of the tanker market and asked us to confirm their views on vessel utilisation across the tanker market. This

Floating LNG Regasification is Used in Smaller Markets

According to the latest research from the US Energy Information Administration (EIA), floating LNG (FLNG) regasification is being used to meet rising natural gas demand in smaller markets.

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

Ports

PSA starts up in Dammam

Saudi Global Ports (SGP), a joint-venture company formed between the Public Investment Fund of the Kingdom of Saudi Arabia and PSA International (PSA) has started

PSA Starts Expansion Work on 2m teu Panama Terminal

Singapore-based port operator PSA Panama International Terminal (PSA Panama) has started a USD 400 million expansion of its container terminal located on the west bank of the Panama Canal Pacific.

Hung Hom Dredging Kicks Off

Marine works involving dredging operations will be carried out near the Hong Kong Coliseum, Hung Hom for the next ten months, according to mardep.gov.hk.   The

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair 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: 0.1054 sec (9 req/sec)