Oil Tankers
Nigeria bans specific oil tankers from calling on its portsThe Nigerian state oil company (NNPC) last week banned 113 oil tankers,primarily VLCCs, from calling on Nigerian oil terminals. The ban wasreportedly due to a crackdown on oil theft and corruption in the country, asit’s alleged that there were discrepancies between loading and dischargefigures. Intertanko strongly opposes the ban, pointing out that some of theships haven’t called on Nigeria ports in years, and some haven't called atall. Regardless, if the ban holds we believe this could have a positive effecton the tanker market, as the ban would artificially reduce local supply offWest Africa and decrease trading efficiencies, effectively lowering theoverall supply
Nigeria bans specific oil tankers from calling on its portsThe Nigerian state oil company (NNPC) last week banned 113 oil tankers,primarily VLCCs, from calling on Nigerian oil terminals. The ban wasreportedly due to a crackdown on oil theft and corruption in the country, asit’s alleged that there were discrepancies between loading and dischargefigures. Intertanko strongly opposes the ban, pointing out that some of theships haven’t called on Nigeria ports in years, and some haven't called atall. Regardless, if the ban holds we believe this could have a positive effecton the tanker market, as the ban would artificially reduce local supply offWest Africa and decrease trading efficiencies, effectively lowering theoverall supply
