BP to Sail Supertanker of Fuel Oil to Singapore, Ship Data Show

BP Plc will load a supertanker tomorrow bound for Singapore in the first fuel-oil shipment this month from Europe to Asia’s biggest oil-trading and storage center, shipping fixtures

and data compiled by Bloomberg show.
The Evgenia 1, a Malta-flagged very large crude carrier, will sail this week from Rotterdam for $3.35 million, based on a report from Optima Shipbrokers Ltd. The vessel arrived in port today and will carry fuel oil, Bloomberg data showed. A VLCC can take on about 2 million barrels of crude or fuel oil, a refining by-product used to power ships or generate electricity.
Fuel-oil inventories in the European storage hub of Amsterdam-Rotterdam-Antwerp rose 6 percent in the week ended June 30 to 748,000 metric tons, according to PJK International BV. That’s about 4.82 million barrels. Stockpiles of residual fuels in Singapore fell 0.7 percent to 20.6 million barrels in the week to June 29, trade ministry data showed.
Robert Wine, a London-based spokesman at BP, Europe’s second-largest oil company, declined to comment on trading operations.
At least three supertankers were chartered to carry fuel oil from Europe to Singapore in June, according to shipping fixtures and Bloomberg data.
Source: Bloomberg