North Sea Crude-June Supply May Be Tight

Posted by Eric Haun
Tuesday, May 06, 2014

North Sea crude premiums held strong on Tuesday, supported by solid demand from Shell, and traders said the market for June-loading cargos could remain strong due to tighter supply.

Loading programmes for North Sea crude in June have started to be issued this week and traders say summer maintenance work at oilfields and other infrastructure could tighten supplies.

"That could keep differentials supported," said one.

Output at the Buzzard oilfield appears to have recovered after a cutback last month, which trimmed supply of Forties and led to a spate of loading delays for cargoes in April and May.

The field was pumping at normal rate of around 200,000 barrels per day on Tuesday, an industry source said.

Shell bid for a Forties cargo loading on May 23-26 at dated Brent plus 90 cents, unchanged from a similar bid on Friday, and the highest differential since February according to Reuters data.

Eni offered a Forties loading on May 29-31 at dated plus $1.20, up 5 cents from its offer on Friday.

June Programs
A number of programs were circulating in the market on Tuesday, including:

DUC: Two cargoes will load in June. A trader thought the relatively low number of cargoes was due to maintenance.

Statfjord, Gullfaks: Four cargos of each grade will load in June.

Troll: Twelve cargos will load in June.

(Reporting by Alex Lawler; Editing by William Hardy)

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


Zim plans Wall Street IPO

Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported.   Zim Integrated

Amid Commodity Crisis, LPG Emerges as Accidental Bright-spot

Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding

Urals Weakens Further in Baltic

Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.


Zim plans Wall Street IPO

Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported.   Zim Integrated

Friendship to Green Ships

Korea and Denmark both have ambitious national plans for a transition to greener and more energy efficient economies.    The Danish-South Korean Green Growth Alliance met for roundtable talks.

EfficienSea2 Rolls out Maritime Cloud

The Danish-led e-navigation project, EfficienSea2, got one step closer to being launched when a core element of the project – Maritime Cloud – was debated by a

Offshore Energy

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

MacGregor Wins Deck Machinery Order in China

MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five

Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.2384 sec (4 req/sec)