Med Urals Market Awaits Short May Loading Schedule

Posted by Eric Haun
Tuesday, April 15, 2014

Activity in the Russian Urals crude market froze on Tuesday as traders said they were awaiting the first loading dates for May for signs of how much supplies from the world's top oil producer could fall next month.

Traders said they anticipated lower exports from Russia in May as several major domestic refineries were set to end their maintenance works.

The Urals swaps market showed expectations for prices to strengthen in May to around dated Brent minus $1 per barrel, some 30-40 cents stronger than current price estimates.

Traders also spoke about a physical deal being done in the Baltic on Tuesday for a cargo of Urals at dated Brent minus $1.30 a barrel, a notch stronger than prices on Monday, but that could not be verified.

"I don't think the May Urals program will be very short but certainly it will be shorter than April," one trader said.

Russia's No.2 oil producer Lukoil has agreed to sell its 50 percent share in a company that owns oil and gas projects in Kazakhstan to China's Sinopec for around $1.2 billion.

In light grades, a tanker was due to load 1 million barrels of crude on Tuesday from Libya's reopened Hariga port, its first export shipment since a deal to end months of closures at its main oil terminals, the National Oil Corp. (NOC) said.

Hariga remains the only terminal which has seen force majeure on its operations lifted.

The situation at the smaller Zuetina facility south of Benghazi is less clear: although it was slated to reopen as part of the deal secured between Tripoli and separatists, there has still been no confirmation of any restart more than a week after the initial agreement.

"All in all, Hariga represents only a minor proportion of Libya's total export capacity, and it is worth keeping in mind that even if loadings there do go ahead, crude exports will remain significantly below January levels," JBC Energy consultancy said in a note.

"Meanwhile, the country's two largest ports, Es Sider and Ras Lanuf, remain under separatist control. Given the status of the country's other ports, we see total export capacity reaching some 300,000 bpd this week," JBC added.

(Reporting by Dmitry Zhdannikov; Editing by David Evans)

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

Offshore

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

Research Vessel Concept a First for Voith

The new fisheries research vessel of the Shanghai Ocean University will be a first for Voith in several respects.   It is the first fisheries research vessel

Ocean Safety’s New Liferaft Facility Opens

Ocean Safety, a specialist in the worldwide supply, distribution, service and hire of marine safety equipment, has opened a new liferaft hire division.   Ocean

Tanker Trends

First Gas Turbine-powered LNG Carrier Granted AIP

Hyundai Heavy Industries (HHI) announced it has jointly developed world’s first gas turbine-powered 174,000 m3 LNG carrier with GE Aviation and Marine and has secured

Japan's MHI Bags Indian Oil's LNG Storage Tank Contract

Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal

FSL Trust Inks Tanker Contracts

FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust announced new time charter agreements for FSL Shanghai, FSL Hamburg and FSL Singapore.

Ports

Tunisia Reassures Yachters Following Terror Attack

A week after a terrorist attack in Tunisia, local superyacht businesses are reassuring yachters that security has been increased at Tunisian ports despite numerous cancellations.

Greece Port Operations Update

An update on Greece’s port operations and local conditions was issued today by maritime services provider Inchcape Shipping Services (ISS).   According to ISS,

Danish Ports Approve HullWiper

Authorities at the Danish ports of Copenhagen, Kalundborg and Fredricia have granted permission for GAC EnvironHull’s pioneering, diver-free, underwater HullWiper

Energy

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

DNV-GL Approves Kongsberg Engine Room Simulators

Kongsberg Maritime has received DNV-GL certification for three of its latest engine room simulator models designed to provide in-depth training on the K-Sim Engine simulator platform.

Japan's MHI Bags Indian Oil's LNG Storage Tank Contract

Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal

News

Tunisia Reassures Yachters Following Terror Attack

A week after a terrorist attack in Tunisia, local superyacht businesses are reassuring yachters that security has been increased at Tunisian ports despite numerous cancellations.

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

Djibouti Training Center Build on Pace

The construction of the Djibouti Regional Training Centre (DRTC) in Doraleh, Djibouti is moving forward in earnest, with a view to completion by the end of September 2015,

Logistics

Container Shipping Lucky to Break Even in 2015

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R.

Dry Bulk Market Crisis: Opportunity or Threat?

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between

Offshore Energy

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

DNV-GL Approves Kongsberg Engine Room Simulators

Kongsberg Maritime has received DNV-GL certification for three of its latest engine room simulator models designed to provide in-depth training on the K-Sim Engine simulator platform.

ISS Inks Service Pact with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East. Currently

 
 
Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.3040 sec (3 req/sec)