LONDON, Oct 11 (Reuters) - Differentials for Nigerian crude
oil grades continued to crash on Friday with the key grade being
shown at its lowest level since 2005 owing to still rising
freight rates as a result of U.S. sanctions on China's shipping
company COSCO.
* Phillips 66 tentatively chartered a supertanker to ship
U.S. crude from the U.S. Gulf Coast to South Korea for a record
$14 million this week, sources said Thursday.
* Traders and ship brokers said that rates were still rising
beyond that level and that Bonny Light had been offered down to
around dated Brent flat, down from close to a $2.50 premium to
dated Brent last week.
* In the Platts window, Cepsa bought a cargo of Amenam at
dated Brent minus $1.55 cents a barrel from Total loading Nov.
10-11.
* Bonny Light and Qua Iboe typically trade no more than
$1-$1.10 a barrel above Amenam, further illustrating the market
collapse, a trader said.
* Forcados crashed earlier this week after Trafigura sold a
cargo $1 below an offer level on Monday.
* Cepsa also bought Bonny Light and Abo from Eni and
Escravos from Equinor, traders said. Price details did not
immediately emerge.
TENDERS
* India's IOC awarded its latest tender for west African
crude loading Nov. 24 to Dec. 3 to Total, Chevron and Shell.
* India's HPCL issued a buy tender for crude loading in the
first quarter of next year. Details will emerge next week.
RELATED NEWS
* Highly sought after types of oil best suited to making
cleaner shipping fuel are suddenly finding they are a tougher
sell for thirsty East Asian markets, traders say, in an
unintended consequence of U.S. sanctions on a Chinese shipping
fleet.
(Reporting By Julia Payne; Editing by Kirsten Donovan and Deepa
Babington)
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