Libya May Load 420,000 Tons of Crude on Four Tankers This Week

Four tankers have been booked so far to load 420,000 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 3.1 million barrels, compared with about 2.7 million barrels booked to load on four vessels last week, the New York- based shipbroker’s figures show.

Oil exports from Libya, the holder of Africa’s largest reserves, ceased amid the uprising that ousted now-deceased Muammar Qaddafi as national leader this year, helping crude futures in London rise to $127.02 a barrel in April. Libya’s crude output will return to pre-conflict levels in the third quarter of next year, the country’s oil minister said Dec. 14.

The following table shows weekly charters for crude cargoes from Libya, according to Poten. Cargo size is expressed in metric tons.

Ship name            Load Date    Destination       Cargo Size
Nell Jacob           Dec. 25      China             130,000
Unknown              Dec. 30      Spain             80,000
Kornati              Dec. 30      Spain             80,000
Total (week ending): Dec. 31                        290,000

Torm Ingeborg        Dec. 20      Northwest Europe  80,000
Asahi Princess       Dec. 20      Mediterranean     80,000
Princimar Promise    Dec. 21      Asia              130,000
SKS Skeena           Dec. 24      Northwest Europe  130,000
Total (week ending): Dec. 24                        420,000

Total week to Dec. 17                               370,000
Total week to Dec. 10                               320,000
Total week to Dec. 3                                450,000
Total week to Nov. 26                               370,000
Total week to Nov. 19                               240,000
Total week to Nov. 12                               210,000
Total week to Nov. 5                                160,000

(Source: Bloomberg)