Photo credit: Shutterstock/Igor Grochev
By Alex Longley (Bloomberg) —
The cost of shipping oil from Nigeria surged the most in more than a year at the end of a week in which some owners were said to be staying away from Africa’s largest oil producer.
Freight for ships hauling about 1 million barrels of crude from Nigeria to Europe jumped almost $16,000 a day on Friday, the biggest gain since April 2022. It rose to just over $64,000 a day, data from the Baltic Exchange show.
Earlier in the week, at least two shipowners said they were keeping their vessels away from Nigeria after a series of multimillion dollar tax bills were sent out, seeking to claw back unpaid duties from 2010-2019.
“Some owners have decided to stay away and, if nothing else, it’s really shifted sentiment because there’s a smaller pool of vessels willing to go there,” said Halvor Ellefsen, a tanker broker at Fearnleys Shipbrokers UK Ltd.
© 2023 Bloomberg L.P.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,850 members that receive our newsletter.
Have a news tip? Let us know.
By Steve Holland WASHINGTON, May 2 (Reuters) – Russia has been quietly shipping refined petroleum to North Korea at levels that appear to violate a cap imposed by the United Nations Security Council, the...
By Bloomberg News (Bloomberg) — Russia’s state-controlled gas giant reported its first annual net loss since 1999 on falling shipments to Europe and lower prices for the fuel. Gazprom Group, which...
Ocean carriers are walking a tightrope between risk and reward in new long-term contract negotiations, as uncertainty in the Red Sea continues to cast a shadow over the market, according...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,850 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
