Originally Released on 4 May 2017
- Our data shows that Iran April exports reached a 13-month record low, exporting 2,111 kbd of crude oil and condensates and has no more supply-potential in floating storage (below 5 mmbbls)
- After reaching 660 kbd in December, Libyan exports have decreased consistently and finished April at 470 kbd. However, El sharara field resumed operations restoring 200,000 bpd of production with an immediate effect, according to NOC. Zawia terminal, which exports this grade, has already shipped 2 aframaxes: Minerva Kythnos and Seanostrum on Apr.30 and May.3. They will head towards New York and Italy, respectively.
- Nigeria increased exports in April compared to March with, in particular, Bonga maintenance operations completed, but remains 300 kbd below November figures (1892 kbd) and more or less at the same level than October.
- Russia kept increasing volumes and exported in average 5160 kbd in April (+
- VLCC Sea Lynx is storing 1,2 million barrels of Forties at Southwold anchorage
- VLCC Desimi is storing 2 million barrels of Forties at Dumbar
- Aframax Thornbury is storing 600,000 barrels of Ekokisk close to Teesside
- New Frontier was fixed by BP to a North Sea / China voyage starting on 10-15 May.
- BW Peony signaled Hound Point ETA May.04 and is currently waiting to load.
April US exports slightly increased compared to March finishing the month at 764 kbd (+60 kbd vs March) according to our data. 400 kbd of the exported barrels signaled Asia as final destination.
In May, 1 VLCC already started loading US crude via ship-to-ship in Southwest lightering area and will head towards Eastern Asia.Gener8 Ares was fixed by Trafigura. She already loaded approx 1.5 million barrels from 3 smaller vessels.