W. Africa Crude-Buyers wary as high freight rates weigh

 LONDON, Oct 7 (Reuters) - Sellers returned to the window on
Monday to entice buyers spooked by high freight rates due to
Washington's sanctions on subsidiaries of a major Chinese
shipping firm at the end of September. * Long-haul rates to Asia have risen sharply prompting
refiners to shed some cargoes. * China's Unipec offered four cargoes in the window for a
third session all November loading on a fob basis. These were
Angolan Saturno at dated Brent plus 35 cents, Dalia at dated
Brent plus $1.90, Mostarda at dated Brent minus 5 cents and a
cargo of Equatorial Guinean crude. * Angolan state oil company Sonangol was still offering for
cargoes of November-loading Cabinda at a premium of $3.10
compared to dated Brent, Dalia at $2.80 and Gindungo at $1.60. * Vitol offered a cargo of Forcados at dated Brent plus
$4.70 on a delivered basis to Rotterdam for Nov. 15-20 arrival. * Trafigura also offered a cargo of Forcados at dated Brent
plus $2.70 loading Nov. 10-15. TENDERS * Tenders by India's IOC for two cargoes of West African
crude for November closed, but the winners did not immediately
emerge. * Turkey's Tupras issued a buy tender for Bonny Light,
Forcados, Jones Creek or other similar grades for Nov. 25 to
Dec. 10. It closes on Oct. 8. * India's IOC issued a new tender for west African crude
loading Nov. 24 to Dec. 3 closing later this week. (Reporting By Julia Payne; editing by David Evans) ))
Comments

Leave a Reply

Skip to toolbar