BP Signs $5 Million Charter for South Korea-bound Maersk VLCC

LONDON--BP PLC (BP) is looking to ship 2 million barrels of North Sea crude to South Korea at the end of October, according to shipping fixtures seen Thursday by Dow Jones Newswires, a move that is supporting crude prices in the North Sea market. BP has moved to charter the Very Large Crude Carrier, or VLCC, Maersk Hakone to load Forties crude in Hound Point, Scotland Oct. … [Read more...]

4 Million Barrels of North Sea Forties Crude Set to Ship to S Korea in October

LONDON--Up to 4 million barrels of North Sea Forties crude oil, the main component of global pricing benchmark Brent, are set to leave the region for South Korea in October, according to shipping fixtures seen by Dow Jones Newswires, a move that will likely provide strong support to Brent futures. These volumes represent over 40% of the total output of Forties planned for … [Read more...]

Supply of North Sea Forties Crude Sharply Lower [REPORT]

LONDON (Dow Jones)--The volume of North Sea Forties Blend crude available for August is sharply lower than in July, a trader who had seen the loading program said Friday. Volumes in August are traditionally light as producers typically use the month to conduct routine maintenance on their equipment in the North Sea. The August loading program is scheduled at 290,323 … [Read more...]

Trafigura Charters VLCC Bound for S. Korea, Forties Prices May Soon Stabilize

LONDON--The sliding price of North Sea Forties crude, the main component of global benchmark Brent, is set to find support as up to 2 million barrels of the grade are set to leave the region for South Korea next month, according to shipping fixtures seen by Dow Jones Newswires Thursday. Oil trading firm Trafigura Group moved to charter the Very Large Crude Carrier, or VLCC, … [Read more...]

Statoil Charters VLCC to Ship 2 Million Barrels of Forties Crude to East Asia

(Dow Jones) LONDON--The price-supporting trade in crude oil from the North Sea to South Korea looks set to continue in July as Statoil ASA (STO) moves to charter a supertanker to make the voyage, shipbrokers told Dow Jones Newswires Thursday. The movement of oil from the North Sea to Asia was unheard of before the end of last year, but a free trade agreement between South … [Read more...]