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China’s Sinochem Bought VLCC of CPC Blend for March-April

OIL

China’s Sinochem bought one VLCC of around 2mn barrels of CPC Blend for end-March to early-April loading, traders told Bloomberg, marking the third Asian VLCC purchase since Houthi rebel attacks stepped up in the Red Sea in November.

  • Prior to Red Sea disruptions, Asian refiners bought 8-10 cargoes of CPC Blend per month, mostly in Suezmax tankers which went via the Suez Canal.
  • Earlier last month, Unipec and SK bought one VLCC each of CPC from TCO for March loading or May arrival.

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