rss icon Subscribe
desktop mobile

First ANS Cargo in One Year on Way to China

the Sonangol Cabinda (CREDIT / © V. Tonic)

One million barrels of Alaskan crude is due in China next week, the first such shipment in almost a year, according to data from Refinitiv Eikon and vessel-tracking firm Kpler.

China's imports of U.S. crude have fallen amid the two countries' trade dispute to 41,600 barrels per day (bpd) in the six months ended February, from 377,000 bpd in the first half of 2018, according to the U.S. Energy Information Administration.

Tanker Sonangol Cabinda departed last week from Alaska's Valdez terminal carrying Alaska North Slope (ANS) crude and is projected to arrive June 6 in Qingdao, a hub of independent refiners in east China, the data showed.

It could not be immediately learned who sold the crude. Alaskan producers Exxon Mobil Corp and BP Plc did not immediately respond to requests for comment.

ANS crude in late April traded as little as 25 cents above global benchmark Brent, compared with $1.35 in late May.

"Asia is hunting for medium sour barrels" after supplies were limited following U.S. sanctions on Iran and Venezuela and cuts by the Organization of the Petroleum Exporting Countries, said Matt Smith, director of commodity research at ClipperData. "It's the most desired barrel at the moment."

The vessel could be diverted before it reaches China, but its vessel tracking signal that specifies a destination in China and three deliveries from other U.S. ports to China since April suggest the oil will reach China, analysts said.

Alaska's shipments to China are "likely to become rarer as the trade war bites," one trader said.

Reporting by Collin Eaton

May 30, 2019



SMS Group expands into Shoreham Port

Shoreham Port in West Sussex Photo: Shoreham Port Authority

The SMS Group, a Southampton, UK-based ship repairers and marine engineering services provider

HST Orders Fourth Damen Fast Crew Supplier

Photo: Damen

High Speed Transfers (HST), a recent new entry into the crew transfer sector, has placed its

Diana Shipping Signs Charter Contracts

Pic: Diana Shipping Inc

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a


Hapag-Lloyd Pays Off Bond

Pic: Hapag-Lloyd

German container shipping major Hapag-Lloyd AG has decided to fully redeem the outstanding EUR 280

Analysis: Strait of Hormuz and the Risk of Escalation

© Peter Hermes Furian/Adobe Stock

The Strait of Hormuz, the narrow shipping lane between Iran and Oman named after the fabulously

Cyprus Issues Arrest Warrants for Turkey Drill Ship Crew

Cyprus has issued arrest warrants for the crew of a Turkish drill ship anchored close to its coast for allegedly infringing territory over which the island has rights to explore

Maritime Apps