LONDON: North Sea Forties crude differentials held steady on Friday, supported by pending and potential VLCC shipments to Asia which would reduce supplies in northwest Europe.
Vitol has booked the VLCC Seeb for a shipment to South Korea and GS Caltex is understood to be the buyer, according to market sources.
The vessel is anchored offshore Hound Point in the Firth of Forth waiting to load, according to shipping data.
Another could be on the way as shipping fixtures indicate Total's shipping arm has an option on the VLCC Antarctica to load Forties at Hound Point for South Korea around Oct. 5.
There was no further update on the status of the Buzzard oilfield, the largest contributor to Forties supply, on Friday.
Buzzard's operator, Nexen, said on Wednesday it had resumed oil exports following its latest output hiccup.
FORTIES:
No cargoes traded.
Total bid for Forties loading on Oct. 7-9 at dated Brent minus 25 cents, 15 cents weaker than its last bid on Thursday for the same dates.
BP was offering a cargo loading on Total's dates, but at dated minus 5 cents.
On Wednesday, a prompt cargo of Forties traded at dated Brent minus 70 cents.
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