Read Authentic Ratings for the Euro-Victory

In a notable development within the North Sea oil landscape, the very large crude carrier (VLCC) ATHENIAN VICTORY has departed from the Hound Point terminal in Scotland, fully loaded with Forties crude. This vessel, boasting a capacity of 2 million barrels (bl), is currently signaling ‘for orders’ as it positions itself to transport the crude to South Korea, with its journey fixed provisionally by Shell for 25 December. The ATHENIAN VICTORY's movement contributes to the increasing levels of crude stored in floating configurations in the North Sea. It joins another VLCC, the New Success, which has been anchored offshore Dunbar since 10 December, also loaded with Forties crude. Trading firm Vitol has been proactively offering Forties cargoes from the New Success through ship-to-ship transfers, though interest from buyers has been relatively muted. Additionally, the smaller Aframax vessel, AFLA BALTICA, is still stationed offshore Dunbar, also signaling ‘for orders’ after leaving the Forties terminal earlier in November. With these vessels, the floating storage of North Sea crude now surpasses 7 million bl, significantly up from the 5 million bl observed prior to the ATHENIAN VICTORY's departure. This accumulation reflects the evolving dynamics of oil storage and transportation in the region, as market conditions continue to shift. Source: Argus