UPDATE: ConocoPhillips To Ship VLCC Of Ekofisk Crude To Chile
June 03 2009 - 7:52AM
Dow Jones News
A very large crude carrier loaded with North Sea Ekofisk crude
will sail to Chile Wednesday, after spending three and a half
months in use as floating storage in Scapa Flow, Scotland, Orkney
Islands Council Department of Harbours said.
The Malaysian-registered vessel Bunga Kasturi Dua, carrying
almost 2 million barrels of Ekofisk crude oil, anchored in Scapa
Flow on Feb. 14, the council said in a statement on its Web site
Wednesday.
The vessel was chartered by ConocoPhillips (COP) at a cost of
$52,000 a day for two years of time charter, shipping brokers
said.
"This leaves the Abqaiq and the Maersk Neptune still at anchor
in Scapa Flow, storing between them just under 4 million barrels of
Forties Crude," the council said.
Meanwhile, the VLCC Olympia is undergoing ship-to-ship transfer
with the Aframax Primo Stealth in Scapa Flow, according to shipping
information shown on the Web site. The council, however, didn't
issue any statement on the transfer.
The Olympia was chartered by Total SA (TOT), while the Primo
Stealth was likely booked by BP PLC (BP), traders said.
On May 14, Total sold one 600,000-barrel cargo of Forties to BP
for June 2-4, STS transfer from the Olympia at a discount of 20
cents a barrel to Dated BFOE. On May 19, Total sold a similar cargo
for June 4-6 transfer to BP at a discount of $1.05 to July BFOE,
according to Dow Jones Newswires' records.
The second vessel, which is also supposed to undergo an STS
transfer with the Olympia, has yet to emerge, traders said.
Web site: http://www.orkneyharbours.com
-By Sherry Su, Dow Jones Newswires; +44(0)20-7842-9329;
sherry.su@dowjones.com