CORRECT: UK Forties Crude Transfer Underway In Scapa Flow
18 May 2009 - 10:50PM
Dow Jones News
Another ship-to-ship transfer of Forties crude is underway in
Scapa Flow, Scotland, the Orkney Islands Council Department of
Harbours said late Sunday.
The transfer of 2 million barrels of Forties from the very large
crude carrier Leander to the VLCC Front Shanghai started Sunday and
is scheduled to be completed by late evening on May 20, a statement
posted on the council's Web site said.
The Leander, chartered by Royal Dutch Shell PLC (RDSA) as
floating storage, was moored off Southwold, eastern England, for
nearly five months. Front Shanghai is chartered by Arcadia, traders
said.
The final destination of the Front Shanghai is unclear, but the
Leander is expected to head to Hound Point to load Forties May
24-25 as BP PLC (BP) has chartered it to sail to the U.S. Gulf of
Mexico, traders said.
"Upon completion of this transfer, the total number of barrels
of crude transferred through ship-to-ship transfers in Scapa Flow
in 2009 will reach 10 million barrels," the council said.
Three VLCCs are currently moored in Scapa Flow. The Abqaiq and
Maersk Neptune, loaded with Forties crude, were booked by Vitol
Holding B.V., while the Bunga Kasturi Dua is chartered by
ConocoPhillips (COP) to store Ekofisk, traders said.
-By Sherry Su, Dow Jones Newswires; +44(0)20-7842-9329;
sherry.su@dowjones.com