Libya May Load 330,000 Tons of Crude on Four Tankers This Week

Four tankers have been booked so far to load 330,000 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 345,000 barrels a day, compared with 660,000 barrels a day booked to load on six vessels last week, the New York-based shipbroker’s figures show.

The absence of Libyan production helped crude traded in London reach a 2011 high of $127.02 a barrel in April. The benchmark Brent grade has since dropped 13 percent to $109.97. The resumption of the nation’s supply has been followed by Iran’s threat to block the Strait of Hormuz, renewing concern about global oil supply.

The following table shows weekly charters for crude cargoes from Libya, according to Poten. Cargo size is expressed in metric tons. Some cargoes are shipped under long-term freight contracts and don’t appear in lists of vessel bookings.

(Source: Bloomberg)

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