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Total books Suezmax for North Sea to Korea Forties arb: shipping sources
Total's shipping arm CSSSA has booked, subject to conditions, the Front Njord Suezmax to load a crude cargo on December 4 from Hound Point to South Korea at $3.7 million lump sum, shipping sources said Thursday.
Total would not comment.
There were reports Wednesday that Total was looking to cover a Forties crude cargo on the Hound Point to South Korea route.
As well as Forties, arbitrage fixtures for the sweeter crude Ekofisk have also been seen this week. On Wednesday, BP put on subjects the 135,000 mt Genmar Argus, loading December 2 from the North Sea, with options to go to the US Gulf, Atlantic Coast, and east coast of Canada, said shipping sources, at Worldscale 52.5-55. Traders said it would likely carry Ekofisk to the Delta refinery. BP would not comment.
ENAP was reported to be looking for a Suezmax to load Hound Point to Chile, December 5-15, although this would probably be Ekofisk rather than Forties, according to one trader.
The arbitrage to the Mediterranean for Ekofisk and Oseberg was still open, said traders, with sweet grades such as Azeri and Saharan still trading at strong levels, due to continued low output from Libya.
Source: Platts
Total would not comment.
There were reports Wednesday that Total was looking to cover a Forties crude cargo on the Hound Point to South Korea route.
As well as Forties, arbitrage fixtures for the sweeter crude Ekofisk have also been seen this week. On Wednesday, BP put on subjects the 135,000 mt Genmar Argus, loading December 2 from the North Sea, with options to go to the US Gulf, Atlantic Coast, and east coast of Canada, said shipping sources, at Worldscale 52.5-55. Traders said it would likely carry Ekofisk to the Delta refinery. BP would not comment.
ENAP was reported to be looking for a Suezmax to load Hound Point to Chile, December 5-15, although this would probably be Ekofisk rather than Forties, according to one trader.
The arbitrage to the Mediterranean for Ekofisk and Oseberg was still open, said traders, with sweet grades such as Azeri and Saharan still trading at strong levels, due to continued low output from Libya.
Source: Platts
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