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Friday, October 28, 2016

BP: No VLCC liftings from UK's Hound Point in May, June

March 4, 2014

No very large crude carriers (VLCCs) will load from Britain's Hound Point oil terminal in May and June due to planned maintenance, a spokeswoman for operator BP (BP) said on Tuesday.

Last week traders reported hearing that Hound Point's Jetty 1 would undergo fender and integrity work in May and June. VLCCs can only load from Jetty 1, but BP was not immediately able to confirm the impact on loadings. VLCC shipments to South Korea and China from Hound Point have supported Forties differentials and Brent futures in February and the absence of VLCC loadings in May and June is thought likely to depress prices.

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