Shell Bringing First US Import of Malaysian Condensate
A cargo of Malaysian Bintulu condensate bought by Royal Dutch Shell is sailing to New Orleans, Louisiana, a trade source in Asia familiar with the matter said on Tuesday, in what appears to be the first U.S. import of that grade of offshore oil according to Thomson Reuters Trade Flows data. The Polaris, a medium-range vessel, loaded 200,000 barrels of the condensate at Malaysia's Bintulu terminal in early February, before stopping at Singapore's Jurong Port to pick up another parcel, the source said. It sailed west from Jurong in late February toward the United States, around Africa's Cape of Good Hope, Reuters' vessel tracking data show. A Shell spokesperson was not immediately available for comment. U.S. oil imports from Malaysia are rare.