Breaking News

Wells Fargo Ends 17-Quarter Streak of Rising Earnings Per Share
Tweet TWEET

North Sea Crude Heads for Chile; First Voyage Since June

The Front Odin crude tanker left a U.K. North Sea terminal today for Chile, the first to ply that route in four months, according to ship-tracking data on Bloomberg.

The vessel left the Ekofisk crude loading terminal in Teesside and is headed for the Chilean port of Quintero, the data show. Trafigura Beheer BV chartered the suezmax, able to haul 1 million barrels of crude, according to five shipbrokers reports including JGO Shipbrokers AS.

Front Odin is the first ship to carry a major North Sea crude grade to Chile since June 26, when the tanker Sabine left Forties terminal Hound Point for the port of San Vicente, according to data compiled by Bloomberg.

Ekofisk is one of four grades setting the global benchmark Dated Brent, which is used to price more than half of the world’s oil. The Norwegian grade is delivered by pipeline to the Teesside terminal in northeast England, where it is loaded onto tankers.

Chile’s state-run Empresa Nacional del Petroleo is the buyer of the crude, according to four people who participate in the market, asking not to be identified because the information is confidential. Enap operates the 104,000 barrel-a-day Aconcagua refinery, south of the port of Quintero, and the 116,000 barrel-a-day Bio Bio plant, according to the company’s website.

Victoria Dix, a Trafigura spokeswoman in Geneva, declined to comment on the matter. Enap officials in Santiago, where it is a bank holiday today, weren’t available for comment when called by phone.

To contact the reporter on this story: Laura Hurst in London at lhurst3@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.