Kpler OIL – BFOE floating storage: sold or unsold?

Originally Released on 11 August 2017

BFOE floating storage: sold or unsold?

BFOE floating storage remained unusually high over the past week close to 10 million barrels. This represents a slight decrease compared to July 25th when Kpler reported 12 million barrels floating in the North Sea. The decrease was mainly due to the Sea Lynx leaving the region headed towards Asia. The Southwold anchorage alone is currently host to more than 10 vessels. This is in part because some vessels expected to sail towards Asia have not yet left the zone.

 

Southwold anchorage and vessels holding crude at Southwold

  • The Olympic Leopard VLCC, chartered by Shell, was expected to deliver her cargo to South Korea according to fixtures data, yet she continues to remain in the zone. The VLCC first arrived in early July. She currently holds approximately 1.5 million barrels of Urals and 600,000 barrels of Forties.
  • The Boston VLCC, chartered by CSSA, is carrying approximately 1.6 million barrels of Forties. She is expected to head towards South Korea according to available Fixture data.
  • As was mentioned last week, Desimi and Agrari were seen performing off-shore operations. However, draught for both vessels remained constant. The Agrari recently loaded at Primorsk on August 7th. The Desimi appears to still be storing 2 million barrels of Forties, where it has remained since April 26th.
  • Gener8 Supreme, chartered by ST shipping, is expected to head towards South Korea according to available Fixture data. She is currently carrying approximately 1.8 million barrels of Forties received from the Primero, Hildegaard and Spirit Li vessels towards the end of July and early August.
  • The New SuccessSea Hope and Sola Ts are carrying Ekofisk. The New Success already received approximately 600,000 barrels from Blue Pride, chartered by Vitol. Sea Hope is chartered by Shell until Feb 15th, 2018, when the lease expires on the vessel.
  • The Gener8 Neptune VLCC holds approximately 500,000 barrels of Ekofisk and 1.1 million barrels of Brent. She was also expected to sail towards South Korea chartered by Shell, according to available fixture data, yet she also continues to remain in the zone.
  • Searanger loaded Brent on August 3rd. The vessel is awaiting orders and is currently stopped near Falmouth OPL.
Summary of vessels carrying BFOE grades stopped and waiting for orders (click to expand)

BFOE crude floating storage in the North Sea by grade

Urals

There are also a few vessels carrying Urals at the Southwold anchorage. The Overseas Yosemite, Ridgebury Alice M and New Laurel are all carrying the grade :
  • The New Laurel received 1.4 million barrels from the Belmar and Suvorovsky Prospect, chartered by Glencore and ST shipping respectively.
  • The Overseas Yosemite and Ridgebury Alice M are both chartered by UNIPEC and currently stopped at Southwold anchorage.

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