OPEC cuts

As many of our users asked us about exports variation for countries involved in last November’s agreement, we decided to follow weekly evolution of exports for key countries.

Iraq shipped 3.59 million barrels a day of crude oil in December from its ports in southern Basrah province, which was a record high. In the same time, the country has reduced its oil production by 160,000 barrels a day and will comply with cuts agreed last November, Oil Minister Jabbar Al-Luaibi said.

North Sea

North sea to Asia

4 VLCC’s were fixed on January for Hound Point-Asia voyages. This is the third time since January 2016 that 4 VLCC’s will load at Hound point:

  • Maran Capricorn loaded approx. 2.1  MMbbls on Jan.7 and signaled Daesan as destination, ETA Feb.25.
  • Athina loaded approx 600,000 barrels of Forties on Jan.9, according to draught. She is expected to load the rest of her cargo later this month before heading towards Ningbo, China. She is chartered by UNIPEC.
  • New Triumph signaled Hound Point as destination, ETA Jan.10. She will be heading towards South Korea. She is chartered by SOCAR.
  • Gener8 Neptune also signaled Hound Point ETA Jan.13. She is chartered by BP and will head towards South Korea.
Floating storage
  • Floating storage landscape has significantly changed over the last month. End-November 2016, we were showing around 18 vessels sitting in the North Sea without having signaled any destination. Today, we have identified 8 vessels



US exports: