u/StarFEU-Commodity

▲ 55 r/oil

Two Chinese supertankers, carrying 4M barrels of Middle East crude, heading to Guangdong and Fujian

Two Chinese supertankers, laden with a total of 4 million barrels of Middle Eastern crude oil, departed on Wednesday. Their exit followed a wait of over two months in the Gulf.

These vessels are part of a small group of supertankers transporting Iraqi crude oil out of the Gulf this month. This movement is occurring via a transit route mandated by Iran.

The Chinese-flagged Very Large Crude Carrier (VLCC) Yuan Gui Yang loaded 2 million barrels of Iraqi Basrah crude on February 27, shortly before the outbreak of the U.S.-Israeli tensions involving Iran, according to the data. Chartered by Unipec, the trading division of Sinopec, Asia’s largest refiner, the ship is projected to arrive at Shuidong Port, near Maoming city in southern Guangdong province, on June 4 to unload its cargo.

The Hong Kong-flagged VLCC Ocean Lily, owned by Chinese firm Sinochem, took on 1 million barrels each of Qatari al-Shaheen and Iraqi Basrah crude between late February and early March, the data indicates. It is expected to arrive at Quanzhou Port in eastern Fujian province on June 5 for cargo discharge.

Sinopec, Sinochem, and Cosco Shipping, which own and manage the Yuan Gui Yang, have not yet provided comments. Last week, the VLCC Yuan Hua Hu also exited the strait, carrying 2 million barrels of Iraqi oil and destined for Zhoushan Port in eastern China.

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u/StarFEU-Commodity — 8 hours ago
▲ 74 r/oil

Three tankers, including two VLCCs, carrying crude exited

Shipping data from Kpler and LSEG revealed on Monday that three crude oil tankers exited the Strait in the past week, including two on Sunday, with their tracking systems disabled to mitigate potential Iranian attacks. This action highlights a growing tendency to maintain Middle East oil exports despite regional tensions.

Two very large crude carriers (VLCCs), the Agios Fanourios I and the Kiara M, each transporting 2 million barrels of Iraqi crude, traversed the strait on Sunday, according to the data.

The Agios Fanourios I is scheduled to deliver its cargo to the Nghi Son Refinery and Petrochemical facility in Vietnam on May 26. The tanker had previously failed to transit the strait at least twice since loading Basrah Medium crude on April 17. Eastern Mediterranean Maritime, which manages the Agios Fanourios I, and the Nghi Son facility, did not immediately respond to requests for comment.

The Kiara M also exited the Gulf on Sunday with its transponder off, as indicated by Kpler data. The destination for the San Marino-flagged tanker, which is carrying 2 million barrels of Basrah crude, is unknown. Managed by a Shanghai-based firm and owned by a Marshall Islands-registered entity, the companies could not be reached for comment as their contact information is not public.

Earlier, the VLCC Basrah Energy, loaded with 2 million barrels of Upper Zakum crude from Abu Dhabi National Oil Co.'s (ADNOC) Zirku terminal on May 1, exited the Strait of Hormuz on May 6, according to Kpler data. The Panama-flagged vessel unloaded its cargo at the Fujairah Oil Tanker Terminals on May 8. It remains unclear which company chartered the tanker, which is owned and managed by Sinokor. Sinokor did not respond to requests for comment outside of business hours.

ADNOC and its customers have recently dispatched several tankers loaded with crude oil through the Strait, aiming to transport oil impacted by the Middle East conflict.

reddit.com
u/StarFEU-Commodity — 9 days ago