Nigerian tanker prices soar as owners keep their distance Ship’s crew

By Alex Longley (Bloomberg) —

The cost of transporting oil from Nigeria rose the most in more than a year at the end of a week that reportedly saw some owners stay away from Africa’s largest oil producer.

Freight for ships carrying about 1 million barrels of crude oil from Nigeria to Europe rose nearly $16,000 a day on Friday, the biggest gain since April 2022. It rose to just over $64,000 a day, according to reports Show Baltic Exchange data.

Earlier in the week, at least two shipowners said they would keep their ships out of Nigeria after a series of multimillion-dollar tax bills were sent out to make it happen To fall back on unpaid duties from 2010 to 2019.

“Some owners have chosen to stay away and last but not least the mood has really changed because there is a smaller pool of vessels willing to go there,” said Halvor Ellefsen, a tanker broker at Fearnleys Shipbrokers UK Ltd.

© 2023 Bloomberg LP

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