North Sea Crude-Forties up on Lower May Supplies

MarineLink.com
Wednesday, April 09, 2014

North Sea Forties crude differentials rose on Wednesday as traders pointed to lower supplies in May, and rumours of possible shipments to South Korea.

The May loading programme is down 13 percent month-on-month, offering support to prices, especially as refineries start to return from spring maintenance.

BP sold Chevron a cargo of Forties for loading May 2-4 at dated Brent plus 5 cents, up from the last trade on Thursday at dated Brent minus 15 cents.

A bid from ENI for a late April loading was even higher, but failed to find any offers.

Traders are also eyeing a possible VLCC cargo to South Korea in late April, but many have expressed doubts it will sail.

Shipping fixtures on Monday showed the Phoenix Vanguard had been chosen by Shell for a shipment to South Korea, departing around April 24.

The ship is now just north of the Canary Islands off northwest Africa. Shell also nominated the Phoenix Vanguard for a similar shipment in March but this didn't go ahead.

Traders also said there was a rumour that a Suezmax to South Korea might be booked for May, when the VLCC jetty at Hound Point will be closed for maintenance.

Forties

BP sold a cargo of Forties for loading May 2-4 at dated Brent plus 5 cents in the Platts price assessment window.

ENI bid for Forties for loading April 25-30 at dated Brent plus 10 cents, but found no offers.

The last trade came on Thursday at dated minus 15 cents for April 17-19 Forties.


(Reporting by David Sheppard; Editing by David Evans)

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Coast Guard Medevacs Seafarer From Tanker off Galveston

A Coast Guard rescue helicopter crew medevaced a 32-year-old crewmember off an Italian-flagged tanker Wednesday, after he suffered an injury from a snapped fender

USCG Rescue Fisherman from Western Lake Erie

The Coast Guard rescued a fisherman from western Lake Erie after he launched an emergency distress flare Wednesday afternoon, near South Bass Island, Ohio. The

Chariot Agrees Brazil Farm Out with AziLat

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda.

Tanker Trends

The World's Most Expensive Jones Act Tanker

The series highlighting the world's most expensive active vessels from online ship intelligence and information service VesselsValue.com focuses this week on the most expensive tanker vessel,

DNO Eyes First Kurdistan Crude Shipment

Norwegian firm DNO expects its first shipment of oil from Kurdistan to be sold on the international market by the end of the year and said it was committed to its

Second Tanker Awaits Lifting Opportunity at Libya Port

A second tanker is waiting to load oil at Libya's Es Sider port, state-run National Oil Corp (NOC) said on Thursday, as the country's biggest crude export terminal

Energy

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

Keppel Delivers 4th Jackup Rig to Qatar

Keppel FELS Limited (Keppel FELS) has delivered its fourth jackup rig, "Dukhan", to Gulf Drilling International Ltd. q.s.c. (GDI) of Qatar nine days ahead of schedule,

DNO Eyes First Kurdistan Crude Shipment

Norwegian firm DNO expects its first shipment of oil from Kurdistan to be sold on the international market by the end of the year and said it was committed to its

News

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

The World's Most Expensive Jones Act Tanker

The series highlighting the world's most expensive active vessels from online ship intelligence and information service VesselsValue.com focuses this week on the most expensive tanker vessel,

Signet Tows Aircraft Carrier on Final Voyage

The final voyage of aircraft carrier USS Saratoga begins today. From the Eastern Hemisphere to the Western Hemisphere, the USS Saratoga has made her mark around the globe,

Offshore Energy

Keppel Delivers 4th Jackup Rig to Qatar

Keppel FELS Limited (Keppel FELS) has delivered its fourth jackup rig, "Dukhan", to Gulf Drilling International Ltd. q.s.c. (GDI) of Qatar nine days ahead of schedule,

Chariot Agrees Brazil Farm Out with AziLat

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda.

Standard Chartered Private Equity invests $ 75 mi in Topaz

Topaz Energy and Marine (“Topaz”), a leading offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2375 sec (4 req/sec)