Libya May Load 330,000 Tons of Crude on Four Tankers This Week

Four tankers have been booked so far to load 330,000 metric tons of crude oil in Libya this week, according to data from Poten & Partners Inc.

The ships have been chartered to pick up the equivalent of about 345,000 barrels a day, compared with 660,000 barrels a day booked to load on six vessels last week, the New York-based shipbroker’s figures show.

The absence of Libyan production helped crude traded in London reach a 2011 high of $127.02 a barrel in April. The benchmark Brent grade has since dropped 13 percent to $109.97. The resumption of the nation’s supply has been followed by Iran’s threat to block the Strait of Hormuz, renewing concern about global oil supply.

The following table shows weekly charters for crude cargoes from Libya, according to Poten. Cargo size is expressed in metric tons. Some cargoes are shipped under long-term freight contracts and don’t appear in lists of vessel bookings.

Ship name            Load Date    Destination       Cargo Size
Libya                Feb. 5       Singapore         130,000
Wilana               Feb. 7       China             130,000
Zallaq               Feb. 11      China             130,000
Total week ending    Feb. 11                        390,000

Rich Duchess II      Jan. 29      Northwest Europe  80,000
Donat                Jan. 31      U.S.              135,000
Total week ending    Feb. 4                         215,000

Torm Valborg         Jan. 23      Italy             80,000
Neverland Angel      Jan. 24      Italy             90,000
Dugi Otok            Jan. 26      Italy             80,000
Unknown              Jan. 27      Spain             80,000
Total week ending    Jan. 28                        330,000

Total week to Jan. 21                               630,000
Total week to Jan. 14                               290,000
Total week to Jan. 7                                450,000

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net