Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

West Africa Oil-Cargo Demand Gains on Hormuz Threat, Arctic Says

Don't Miss Out —
Follow us on:

Jan. 16 (Bloomberg) -- Oil shipments from West Africa are rising as buyers seek additional cargoes after Iran threatened to block the Strait of Hormuz, Arctic Securities ASA said.

An increase in cargoes from West Africa has reduced the supply of available ships, boosting charter rates for very large crude carriers, Oslo-based analyst Erik Nikolai Stavseth wrote in an e-mailed report today. Each VLCC can carry 2 million barrels of oil. The strait is a chokepoint for shipments of crude from the Persian Gulf.

“Some buyers are positioning for other cargoes from West Africa to compensate for any possible blockade of the Persian Gulf by Iran,” Stavseth said by phone from Oslo. “An increase in suezmax rates in West Africa results in less ships in the Persian Gulf, and this is net positive for VLCC rates in the gulf and West Africa.”

To contact the reporter on this story: Rob Sheridan in London at

To contact the editor responsible for this story: Alaric Nightingale at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.