West Africa-U.S. Tanker Deals Gain as Reported Charters Advance
Oil companies booked enough tankers to ship at least 38.9 million barrels of West African crude to the U.S. last month, an increase of 62 percent since October, according to data from Clarkson Research Services Ltd.
Traders hired sufficient vessels to ship 17 million barrels to China, a ninefold increase, while India-bound shipments declined 57 percent to 5.7 million barrels, the data showed.
Clarkson’s total reported deals for loading from West Africa jumped 37 percent to 96.8 million barrels. Oil traders and shipbrokers aren’t compelled to report vessel charters.
Clarkson records cargo sizes in metric tons, as is customary for all shipbroker reports. These were sorted by country of destination and then multiplied by 7.3 to estimate cargo volumes.
Nigeria and Angola, West Africa’s two biggest exporters, had combined output of 3.85 million barrels a day in November, or 115.5 million for the month, according to Bloomberg estimates.
They’re scheduled to ship a combined 3.7 million barrels a day this month, and 3.66 million barrels in January, according to loading programs obtained by Bloomberg News.
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