October 7, 2019 / 4:57 PM / 9 days ago

W. Africa Crude-Buyers wary as high freight rates weigh

    LONDON, Oct 7 (Reuters) - Sellers returned to the window on
Monday to entice buyers spooked by high freight rates due to
Washington's sanctions on subsidiaries of a major Chinese
shipping firm at the end of September. 

    * Long-haul rates to Asia have risen sharply prompting
refiners to shed some cargoes. 
    * China's Unipec offered four cargoes in the window for a
third session all November loading on a fob basis. These were
Angolan Saturno at dated Brent plus 35 cents, Dalia at dated
Brent plus $1.90, Mostarda at dated Brent minus 5 cents and a
cargo of Equatorial Guinean crude. 
    * Angolan state oil company Sonangol was still offering for
cargoes of November-loading Cabinda at a premium of $3.10
compared to dated Brent, Dalia at $2.80 and Gindungo at $1.60.
    * Vitol offered a cargo of Forcados at dated Brent plus
$4.70 on a delivered basis to Rotterdam for Nov. 15-20 arrival. 
    * Trafigura also offered a cargo of Forcados at dated Brent
plus $2.70 loading Nov. 10-15.
    
    TENDERS
    * Tenders by India's IOC for two cargoes of West African
crude for November closed, but the winners did not immediately
emerge.
    * Turkey's Tupras issued a buy tender for Bonny Light,
Forcados, Jones Creek or other similar grades for Nov. 25 to
Dec. 10. It closes on Oct. 8.
    * India's IOC issued a new tender for west African crude
loading Nov. 24 to Dec. 3 closing later this week. 
   

 (Reporting By Julia Payne; editing by David Evans)
  
 
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