Newbuild VLCC's Lift Gasoil, Head Westward

Thursday, March 14, 2019

Ship builders in Asia are sending a record number of supertankers west carrying middle distillate oil products, such as diesel, data intelligence firm Vortexa said on Thursday, adding more volumes might follow.

Very large crude carriers (VLCC) often carry refined, or clean, oil products on their maiden journey before switching to crude oil.

"New build VLCCs are loading clean gasoil for maiden voyages at record levels in 2019," data intelligence firm Vortexa said on Thursday.

"So far this year, Vortexa has observed seven new VLCCs load gasoil — which includes ultra-low sulphur diesel (ULSD) — for maiden voyages, matching the number seen across the whole of 2018, a record year itself. And more such departures could be on the way."

Vortexa pointed to data showing 15 VLCCs have already been delivered this year and a further eight were expected by the end of March.

This activity coincided with falling middle distillates stocks in Europe and rising stocks in Asia, making westward journeys attractive for shippers.

Three new-built VLCCs carrying middle distillates, the Olympic Laurel, the Dijilah and the Ascona, are currently off the coast of Lome after sailing from Asia, according to Refinitiv shipping data, Vortexa and traders.


Reporting By Shadia Nasralla

Categories: Contracts Shipbuilding Tankers

Related Stories

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

China Starts Production at Major Oil Field in Bohai Sea

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com