Saudi Arabia to Send More Crude Oil Supertankers to the US

Vela's Capricorn Star VLCC. Photo: Vela

LONDON (Dow Jones)–Saudi Arabia’s state shipping company, Vela, will transport large volumes of oil to the U.S. again this month, repeating a trend that began in March, but prior to that was very unusual, shipbrokers told Dow Jones Newswires Friday.

Vela has chartered at least 10 supertankers, capable of carrying around 20 million barrels of oil, to ship crude to the U.S. this month, though some brokers say it could be as high as 13. This is a large increase from the normal traffic, which experts say amounts to around one tanker every other month.

-By Sarah Kent, Dow Jones Newswires

avatar

gCaptain

gCaptain is the top-visited maritime and offshore industry news site in the world.Since 2007, gCaptain has proven to be a highly effective platform for information sharing and a source for up-to-date and relevant news for industry professionals worldwide.
avatar